UAE Center for 4th Industrial revolution and World Economic Forum launch Blockchain accelerator

The UAE Centre for Fourth Industrial Revolution, C4IR UAE, has launched a blockchain accelerator programme at its headquarters in AREA 2071 in Emirates Towers. The accelerator programme, hosted by the Dubai Future Foundation, will bring together public and private sector entities, blockchain solution providers, experts from the World Economic Forum, WEF, and legislative authorities who are implementing blockchain technology in their respective fields.

First of its kind under C4IR UAE, the programme aims to work with stakeholders to test blockchain governance frameworks, as well as develop infrastructure protocols that support the use of technology in UAE sectors. In addition to the Blockchain portfolio, the Centre will develop further frameworks in AI and Machine Learning, and Precision Medicine.

This accelerator programme supports the UAE Blockchain Strategy 2021, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to position the country as a hub for digitisation and innovation.

The agenda of the accelerator programme is to test an ongoing toolkit that is being developed by C4IR UAE, UAE stakeholders in the field, World Economic Forum, and WEF’s international blockchain community. The toolkit will shape the deployment of blockchain technology ecosystems towards interoperability, integrity and inclusivity.

As blockchain technology itself remains in its early adolescence, organisations do not yet have clear guidelines and norms for well-designed blockchain solutions. The toolkit will encourage careful consideration of unintended consequences, and that all players remain able to realise the full potential of this foundational technology.

The UAE realises the potential impact of utilising blockchain technology for the development and advancement of the country, and therefore is working towards creating a unique model that supports the adoption of such technology.

The country is working with both the public and private sectors, legislatives and policy makers, as well as blockchain experts to evaluate, test and eventually implement blockchain solutions, making every day processes much more seamless and efficient Over the past years, the UAE has successfully introduced strategies, such as the UAE Blockchain Strategy 2021 and the Dubai Blockchain Strategy, as well as, formulated local and global blockchain councils, such as the Global Blockchain Council and the Dubai Future Council on Blockchain.

The C4IR UAE is the fifth of its kind in the world after the United States, Japan, China and India. The Centre was opened as part of the strategic collaboration between the UAE government and the World Economic Forum and is hosted by the Dubai Future Foundation.

The Centre’s mandate is to develop governance frameworks and protocols to best utilise tools and applications of the Fourth Industrial Revolution in the UAE in an effective, ethical and responsible manner.