Earlier this year, Dubai announced its intention to turn itself into the first blockchain-powered government in the world by 2020.
These ambitions are part of the emirate’s goal of becoming a global business hub, with next-generation technology playing a key role in delivering this vision.
Although most blockchain initiatives are still in their early phases, Gartner’s annual Hype Cycle for Emerging Technologies report, predicts that in the “long-term… this technology will lead to a reformation of whole industries”.
It’s an optimism that has spread to multiple businesses, governments and entrepreneurs in Dubai. In 2016, more than 30 government entities and international companies came together to launch the Global Blockchain Council.