Here's a question for you, what comes to mind when someone mentions Dubai; is the tallest building in the world, crazy rich Arabs, Ferrari, camels, Ikea? The stereotypical list goes on in the infinite, but certainly does not include anything related to the blockchain technology. Well, now that we change our views on Dubai, while plans to transform the city have been set in motion, according to which Dubai will be transformed into the first blockchain city by 2020. And this is actually next year, just the Street.
Dr. Aisha Bint Butti Bin Bishr, who holds the position of general manager of Smart Dubai, firmly believes in the city's potential for revolutionary technology, and thinks that Dubai is in a privileged position to establish and position itself as a blockchain and crypt epicenter, which has the potential to become an intelligent city, fully integrated with blockchain technology, within a few years.
Smart Dubai, are basically the organizers of the Global Blockchain Challenge, which is a competition linked to the blockchain. The aim of this competition is to discover some of the most innovative blockchain startups from all over the world and invite them to operate in Dubai.
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.
Dr. Aisha has shared in relation to Dubai and its potential to meet businesses specifically related to the blockchain.
All efforts to attract innovative startups and new blockchains in the city are actually a part of the larger picture; which is called the Dubai Blockchain Strategy 2020. Initially, this plan was announced by Smart Dubai and the Dubai Future Foundation, both of which are resolved to make Dubai the first blockchain city.
The Global Dubai Blockchain challenge
This competition is a joint venture between Smart Dubai and Dubai Future Accelerators (DFA). DFA is actually an initiative of the Dubai Future Foundation (DFF). The next round of this global blockchain competition will take place later in April, the 2ndND and 3rd respectively at the Future Blockchain Summit. The startups that emerge successfully from the preliminary stages of the competition will have the opportunity to train in Dubai with the DFA. Participants will also receive a candid introduction to the UAE culture.
The competition has room for three winners, the first place will receive a prize of $ 20,000 in cash, while the second and third place will be rewarded with $ 15,000 and $ 10,000 respectively. Last year, the 2018 Future Dubai Blockchain Summit attracted over 8,000 participants, 130 startups linked to cryptography and over 140 speakers. The 2019 summit promises the same, more or less.
Although Dubai may be a bit too ambitious with its goal of becoming the first blockchain city by 2020, it is definitely on the right track. With their ambition and economic potential, the city has an advantage in pursuing blockchain technological innovation. Only time will tell, what the future holds for technology in the land of the Arabs.