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Dubai chooses blockchain technology for its pilot projects

During Keynote 2016 conference today at Burj Al Arab in Dubai, the Global Blockchain Council (GBC) of Dubai unveiled seven new pilot projects that uses blockchain technology.

The new proofs-of-concept projects ranges from initiatives aimed at enabling interoperability between loyalty platforms to reducing the illicit diamond trade. The morning session of the conference today saw opening remarks by CEO of Dubai Future Foundation Saif Al Aleel.

Saif Al Aleel stated in his speech, "We believe that the best way to prepare for the future is to create it, and the best way to create the future is to work together. We believe that blockchain technologies can improve aspects of our lives and our businesses … by speeding up transactions and offering faster and more efficient services."

The projects were presented by Noah Raford, chief operating officer at the Museum of the Future Foundation where he said that all projects will be completed in next three to six months. The goal of these projects is being that these pilots are then evaluated so that the group’s efforts can move forward in discovering new and better use cases.

According to coindesk.com, the projects presented during the conference were:
 

  • Securing diamond trade: Goal of this project is to digitize and transfer the Kimberley certificates, and to facilitate the collection, transfer and storage of statistics provided by each member country around the world. James Bernard, director of business development at DMCC believed that blockchain can play a key role in not only digitizing this paper-based process.
     
  • Electronic health records: Jose Valles, vice president of innovation at du unveiled a project that would digitize health records with blockchain tech. "We're bringing blockchain tech here in order to be able to secure access to this data," Valles said.
     
  • Business registration: This was presented by BitOasis CEO Ola Doudin. The project envisions how companies could more easily onboard to the DMCC trading system through streamlined ID verification as part of the market’s Flexi Desk program. "Now, it takes minutes and a few clicks with one blockchain that has copies of records certified and signed by owners," said Doudin.
     
  • Tourism loyalty points: Loyyal, the blockchain startup and GBC member introduced a concept called ‘Dubai Points’ for how the blockahcin technology could boost tourism by allowing visitors of Dubai to better earn and spend loyalty points. This pilot project is for a blockchain-based program that would incentivize tourism in accordance with the goals of the Dubai Future Foundation.
     
  • Digital wills: Pinaki Aich, VP of Dubai International Financial Centre (DIFC) presented blockchain-based wills and contracts which will help founder-led businesses better transfer ownership. This project has been developed with a blockchain-based applications and services specialist, DigitUs.
     
  • Shipping: Iqbal Alikhan, strategy and business development executive at IBM, presented this project that finds a number of regional players collaborating on how to more effectively exchange goods and the financing for these goods.
     
  • Title transfer: Vignesh Raja, a private equities specialist with Viktor Koenig LLC addressed the idea that blockchain can be used to digitize paper-based processes. In development with Singapore-based blockchain startup DXmarkets Raja introduced a proof of concept which could digitize existing their illiquid assets.


Keynote 2016 is supported by the Smart Dubai initiative, and with strategic partner as Museum of The Future Foundation Dubai.

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