The government of Bahrain has emphasized the importance of blockchain technology for the country's economy while urging the surveillance of information security, reported the news of local Bahrain media on Tuesday, September 4.
As part of a speech to the public SmartSec Cyber of the country The conference on security and the blockchain of 2018, Abdulhussain Mirza, Minister for Electric and Water Affairs of Bahrain, seemed to confirm the government's commitment to promote blockchain.
"Technologies like blockchain take a huge step forward in finding a secure way to facilitate transactions," Mirza said, adding:
"Blockchain's ability to protect user data is a real sign of progress, above all because it can be applied in different companies of different sectors including computer security. "
Bahrain has traditionally remained a little silent about its position on blockchain and cryptocurrency. While neighboring Dubai has sought to revolutionize its economy using the blockchain, the Internet of Things (IoT) and artificial intelligence (AI) in recent years, Mirza's words mark a rare official comment in this sphere for Bahrain.
However, in June, the country issued its first "sandbox" license to exchange Palmex cryptocurrency, allowing the latter to test its services while regulators watch and consider the necessary controls.
Mirza, meanwhile, further warned about the need to increase security through the use of blockchains, emphasizing that "this is the kind of initiative we would like the Bahrainian societies to have so that innovation could be born among the great minds of this community ":
" Computer security is an essential part of our lives because most of our daily lives imply the use of technology in one way or another. "