Dubai to issue Cryptocurrency position, implementation policy and Blockchain report

Smart Dubai has hosted the second meeting of the Dubai Future Council for Blockchain at its offices in the Dubai Design District in early August bringing together local and global decision-makers from various government departments and private companies with a vested interest in smart city technologies.

Chaired by Smart Dubai’s Director General, Dr. Aisha bint Butti bin Bishr, the council was formed by the Dubai Future Foundation, DFF, and held its inaugural meeting on 2nd April, 2019. It is part of the "Dubai Future Councils" initiative, launched at the beginning of 2019 by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of the Dubai Executive Council, and Chairman of the DFF’s Board of Trustees, to find innovative solutions for strategic sectors and forecast their future over the next 50 years.

At its second meeting, the Dubai Future Council for Blockchain presented and approved three initiatives for 2019, the first of which will be a report on Dubai’s Cryptocurrency Positioning. The second initiative is the Dubai Blockchain Implementation Policy and the third initiative is the Future Landscape Report for Blockchain in Dubai.

Dr. Aisha said, "Blockchain is one of the most promising technologies to appear on the world stage in recent years and Dubai has already made remarkable accomplishments in the sector, launching a blockchain strategy and hosting international blockchain conferences that bring together influential international experts." "The ‘Dubai Future Councils’ initiative is another milestone to be added to Dubai’s journey towards excellence and future leadership," she added.

The meeting’s agenda included agreeing on the formation of working groups for these initiatives, as well as setting high-level delivery plans for each of them. Wesam Lootah, CEO of the Smart Dubai Government Establishment, who als serves as the Vice Chair of the Dubai Future Council for Blockchain, said, "Blockchain technology is undoubtedly one of the most prominent breakthroughs of the past few years with a massive potential to transform many aspects of everyday life for individuals, organisations and governments alike. And unlike other places around the world, the UAE, and Dubai, in particular, have embraced blockchain early on."