The Dubai Future Council for Blockchain, launched the Dubai Blockchain Policy at the 9th Smart City Expo World Congress, held in Barcelona. This was chaired by Her Excellency Dr Aisha Bint Butti Bin Bish. The Council was formed by the Dubai Future Foundation (DFF). Its inaugural meeting held on April 2, 2019.
The aim of this initiative is to make Dubai as one of the leading countries in Block chain technology. It is an emerging innovation adopted by many countries across the globe
“Blockchain is undoubtedly one of the most prominent and promising of these breakthrough technologies. With that in mind, the Dubai Future Council for Blockchain sought to develop a policy to support government entities and private companies to implement the technology and form value-creating Blockchain networks.The Dubai Blockchain Policy is one of three initiatives from the Council that are in the pipeline for 2019 and 2020. This launch advances the Council’s agenda to establish Dubai as a global Blockchain capital, and offer a prominent platform for exploring Blockchain-based solutions for the challenges facing the smart cities of the future” said Dr Aisha Bint Butti Bin Bishr.
Dubai Blockchain Policy was conscripted and launched for gathering and identifying challenges from multiple sources, including both government and private entities.
In this policy comprises three important areas, like foundational capabilities, which covers technology platform and services, architecture and standards, shared network services, and legal support network governance, which has several elements, namely, network ownership and membership, intellectual property, funding and monetisation, and network expansion and network operation. It covers data formats and interoperability, data privacy and confidentiality, node and network security, audit and compliance, adoption and communication.