Future Blockchain Summit at Blockchain Seoul 2019
'Dubai is actively pursuing a smart city strategy, which is closely related to the blockchain strategy," said Ramisetty. "After 10 years, we will not talk about what products and projects are related to this (blockchain) technology," she said. "Blockchain technology is applied to many practical projects."
'Education and finance, all government departments will apply the relevant system to the actual blockchain over the next two years, ' she said. And eight-fold growth in the Middle East. "We have three major application cases in the fields of finance, distribution, and services, supply chain management and products and services, including public and private sectors, remittances, identification and management, and asset management."
Ramisetty introduced the contents and current status of projects around the world that participated in the existing Dubai Future Blockchain Summit. She said, "The field of fork, Wyoming, USA, Field to Fork, Tencent, etc. are participating, and in the Middle East as well as Switzerland and Estonia, the blockchain is being used for land registration. 'We are pursuing Dubai Pay, which uses the blockchain for payment and settlement system, with the goal of 2021 under the name of" Dubai Blockchain Project.'
'Chinese commercial banks, JP Morgan, Alibaba, Amazon, Citibank, Wal-Mart, Facebook, etc. are looking at the blockchain, and the ecosystem is being formed.' 'The UAE is the world's center where developers from all over the world take up to eight hours to gather together, and we're working to find many partners in Asia and Europe." 'We are working with several partners in Asia, expecting $ 11 billion in savings on documentation and transactions.'
'The blockchain strategy of Dubai and the Emirates was announced at the last Future Blockchain Summit and will be holding an expo next year.' According to her, strategy consists of three pillars: government efficiency, ecosystem creation and business participation, and international leadership. Government efficiency is a blockchain-related policy developed in partnership with IBM. The creation of ecosystems and corporate participation is part of the Summit's programs in Dubai, as well as accelerators and incubators throughout Dubai, while international leadership is focused on the Dubai government, international organizations and other It is explained by the collaboration.
Ramisetty said, 'There are 30 large-scale (blockchain) projects in Dubai, and they are only in one city. There are many other cases.' There are several stages of projects that are active in blockchain applications, such as, and reduce the risk of fraud by putting student and government certifications and medical records on the blockchain. ”
'Abu Dhabi expects to see policies and regulations related to cryptocurrency ICOs over the next six months,' she said. 'The four key points will be pushed through the Abu Dhabi global market initiative.'
He explained four key points: 'Regulatory Lab,' which can test the project's products and solutions and serve them in Abu Dhabi, and a clear ICO framework that will allow many companies to create exchanges over the next six months to one year. 'Many startups will be able to work on projects in Abu Dhabi with the AGDM digital sandbox, which financial institutions and regulatory bodies can refer to before opening the system.'
*Translated from Korean, please excuse translation errors. Full article available here: http://m.zdnet.co.kr/news_view.asp?article_id=20191017133454&re=zdk