RTA to develop blockchain-based vehicle lifecycle system
Dubai's Roads and Transport Authority (RTA) will develop an end-to-end vehicle lifecycle management using system based on blockchain, as part of its Dubai 10X Initiatives.
The project seeks to improve customer experience by providing a holistic view of vehicle-lifecycle services using Blockchain technology, starting from the manufacturer all the way to the scrap yard.
Dubai 10X was announced at World Government Summit 2017, and the initial projects were revealed at the 2018 edition of the event held last week. The project aims to put Dubai government entities ten years ahead of other governments worldwide.
The RTA will partner with several other government entities and IBM to develop the vehicle lifecycle management system.
The system will begin with cars in Dubai, before being expanded to other vehicles, and the RTA said that it will be expanded and implemented around the world.
His Excellency Mattar Al Tayer, Chairman of the Board and Executive Director of the RTA said that the end-to-end vehicle lifecycle management using Blockchain will provide a reliable source of vehicle history which will support the UAE in becoming a hub for the automotive industry.
"Blockchain provides a transparent record to the entire business network, allowing buyers and sellers of each vehicle to track where the vehicle is in its lifecycle," Al Tayer stated.
"The platform benefits many stakeholders," he explained, "including car manufactures, dealers, regulators, insurance companies, buyers, sellers and even garages, providing transparency and trust in vehicle transactions, preventing disputes and lowering the cost of services. It tracks ownership, sale, and accident history to create smart, more efficient systems for supply chains, Internet of Things networks, multimedia rights management, Government proof of identity, and insurance record management."
Al Tayer said that work will begin on the register this quarter, with the aim of launching a complete system in 2020.
IBM will come on board as strategy formulation consultant, while future partners include government entities such as Dubai Customs, Dubai Police, the Dubai Department of Economic Development (DED), the Emirates Authority For Standardization and Metrology (ESMA), Emirates ID, and the Ministry of Interior.
HE Khalfan Belhoul, CEO of Dubai Future Foundation, which oversees 10X said: "We are at the beginning of a new era for the transport sector; HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum launched the RTA's path-breaking initiative at the sixth World Government Summit, where the Authority clearly signaled that it has started working today on what cities around the world will be implementing ten years from now. Furthermore, the ambitious project will be made reality in Dubai within the next 24 months.
"Blockchain and Artificial Intelligence have become indispensable for the delivery of future government services. By introducing the Dubai 10X projects, the emirate draws one step closer to achieving the Dubai Plan 2021," Belhoul added.