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The goal of the Challenge is to identify innovative projects that can contribute to the implementation of the Dubai Blockchain Strategy 2020, announced by Smart Dubai and the Dubai Future Foundation to make Dubai the first Blockchain-powered city by 2020.
His Excellency Dr Aisha Bint Butti Bin Bishr, General Manager of Smart Dubai, said: "Dubai has established itself, in record time, as a global destination for innovators and entrepreneurs in the Blockchain sector. 39; emirate has become synonymous with courageous technologies that embrace avant-gardes and uses them to create an advanced, connected and fluid urban experience for its residents and visitors. "
"Building a truly intelligent city", H.E. continued, "we need to establish and strengthen a holistic Blockchain ecosystem, including the construction of advanced technology infrastructure to thrive, but also, and perhaps even more importantly, to attract talented and ambitious individuals and start-ups. allow them to implement their innovations – and this is the essence of the Blockchain Challenge, which now holds its third installment. "
H. E. Dr Aisha added: "The competition allows us to provide highly qualified people with innovative and ambitious ideas and bring them to Dubai where they can pilot their projects to channel Blockchain technology to meet people's needs and improve their lives. Building this ecosystem is a catalyst for the Dubai Paperless Strategy and the transition to a paperless government by 2021, as well as a fundamental requirement for the implementation of the Dubai Blockchain strategy, launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, in October 2016 ".
For its part, H.E. Wesam Lootah, CEO of Smart Dubai Government Establishment (SDG), noted: "Dubai's ambitious plans to create a local and thriving business around Blockchain are progressing rapidly with the Blockchain strategy that is going to completely digitize government operations , creating thousands of new technology and business opportunities in the process – this has become evident when Dubai has consistently ranked high, and internationally, in terms of attracting foreign direct investment and other competitiveness criteria. "
"The Global Blockchain Challenge allows us to attract start-ups and companies around the world to pilot and implement their ideas in Dubai, which, in turn, opens up new prospects for Blockchain applications that improve people's lives", H.E. Lootah stated.
H. E. Khalfan Belhoul, CEO of Dubai Future Foundation, said: "At the Dubai Future Accelerator, we are working to provide an ecosystem to support innovation, encourage entrepreneurs and incubate start-ups with the main goal of the business. Use of advanced and emerging technologies like Blockchain to develop and improve government services Our efforts are also focused on promoting Dubai as a testing ground for new innovations and new emerging technologies, where products and services are Pre-legal and pre-market are checked and tested before entering the commercial production phase. "He added that the Global Blockchain Challenge is a global platform and a perfect installation for start-ups all over the world to present their ideas and projects and work together to pilot and test their technologies.
The Global Blockchain Challenge finalists will travel to Dubai to participate in a five-day program, which will include an introduction to the UAE culture and processes in the country, a presentation of the pitch presentation and finally a launch competition. to be held as part of the Future Blockchain Summit, to an audience of investors, experts, private and public institutions. Three finalists will be chosen among the finalists to receive the first, second and third prize money of $ 20,000, $ 15,000 and $ 10,000, respectively, and the opportunity to implement their product or service in Dubai.
Last year, a prize pool of $ 45,000 went to three winners, selected from 17 finalists from 14 countries, which were selected by 200 candidates. The winning start-ups were Irish AID Tech in first place, with the United Arab Emirates Smart Crowd and the US Codex that completed the first three.
The Dubai Blockchain strategy revolves around three main pillars: first, to increase government efficiency by transferring all government transactions applicable to the Blockchain network; secondly, creating a blockchain sector and ecosystem; and finally, guide the thinking and progress of Blockchain technology worldwide. The Blockchain Challenge will contribute to the pillar of the creation of the strategy sector by identifying the most innovative Blockchain ideas of start-ups all over the world and bringing them to Dubai.
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© Press release 2019
