When we think of Dubai, we think of Arab billionaires lifestyles, 6-star hotels and majestic skyscrapers. But did you know that plans are underway to transform Dubai into the first blockchain city by 2020?
Smart Dubai's director general, Dr Aisha Bint Butti Bin Bishr, believes the city is in a prime position to establish itself as a blockchain and cryptic epicenter that could become a real smart blockchain city in the next two years.
Blockchain Smart City in the United Arab Emirates
Smart Dubai is the organizer of the Global Blockchain Challenge, a competition linked to the blockchain aimed at discovering the most innovative blockchain startups in the world and attracting them to operate in Dubai.
Dr Aisha Bint Butti Bin Bishr has had some very positive words to say about the potential of Dubai for cryptographic activities:
Dubai has established itself, in record time, as a global destination for innovators and entrepreneurs in the Blockchain sector. Guided by the vision of our leadership, the emirate has become synonymous with technologies that boldly embrace the avant-gardes and use them to create an urban, advanced, connected and seamless experience for residents and visitors.
Attracting some of the most recent and innovative blockchain startups in Dubai is part of the broader plan called the Dubai Blockchain Strategy 2020.
The plan was initially announced by Smart Dubai and the Dubai Future Foundation at the start of this year and is adamant in making Dubai the first city in the world with blockchain capacity by 2020.
Global Dubai Blockchain Challenge
The next round of the Global Blockchain Challenge will take place at the Future Blockchain Summit on 2-3 April 2019, at the World Trade Center in Dubai. The competition is a joint collaboration between Smart Dubai and Dubai Future Accelerators (DFA), an initiative of the Dubai Future Foundation (DFF).
The winning blockchain startups that will pass the preliminary stages of the competition will be invited to train in Dubai with the DFA and will receive an introduction to the UAE culture. The three winners of the competition will also have the opportunity to sell and implement their products and services in Dubai. The winner of the competition will receive $ 20,000 in cash, while the second and third place will receive $ 15,000 and $ 10,000 respectively.
The 2018 Future Future Blockchain Summit has attracted over 8,000 participants, 130 startups linked to the crypto and over 140 speakers, and the event of this year promises more or less the same.
Although it seems unlikely that Dubai will become the first blockchain city by 2020, their ambition and economic strength will undoubtedly benefit the search for blockchain technology innovation.
Shutterstock foreground image.