Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum has launched the UAE Blockchain Strategy 2021.
Under the strategy, 50% of UAE federal government transactions will be conducted using systems built on blockchain by 2021.
"The adoption of this technology will reflect on the quality of life in the UAE and will enhance happiness levels for citizens," His Highness Sheikh Mohammed said. "Fifty percent of government transactions on the federal level will be conducted using blockchain technology by 2021," he added.
"This technology will save time, effort and resources and enable individuals to conduct most of their transactions in a timely manner that suits their lifestyle and work."
His Highness Sheikh Mohammed said that the adoption of blockchain would help the government prepare for future challenges and contribute to saving AED11 billion spent annually on document transactions and documents, 77 million hours of work, reduce government documents by 389 million, and save 1.6 billion kilometres spent driving.
The UAE plan includes four pillars focusing on citizen and resident happiness, government efficiency, advanced legislation, and global entrepreneurship.
The government will use training courses, events, workshops and reports to build its standing in blockchain and support university courses specialising in the field and related subjects like encryption.
Also present for the launch of the strategy were the Deputy Ruler of Dubai His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum; and the Minister of Cabinet Affairs and the Future, His Excellency Mohammed bin Abdullah Al Gergawi; and a number of ministers.