Dubai Land Department becomes world’s first government entity to conduct all transactions through Blockchain network
Dubai Land Department (DLD) on Saturday announced that it has become the world’s first government entity to adopt Blockchain technology. The initiative has been developed in cooperation with Smart Dubai and other partners.
At Gitex Technology Week 2017, which will run from 8 to 12 October at the Dubai World Trade Centre (DWTC), DLD will launch the initiative, the first-of-its-kind in the global real estate sector, under the slogan “Simple, Secure, Fast”.
DLD has created its Blockchain system using a smart and secure database that records all real estate contracts, including lease registrations, and links them with the Dubai Electricity & Water Authority (Dewa), the telecommunications system, and various property related bills. Blockchain’s secure, electronic real estate platform incorporates personal tenant databases, including Emirates Identity Cards and the validity of residency visas, and allows tenants to make payments electronically without the need to write cheques or print any papers. The entire process can be completed electronically within a few minutes at any time and from anywhere in the world, removing the need to visit any government entity.
“Following the launch of the Dubai Blockchain Strategy by Shaikh Hamdan Bin Mohammad, [Crown Prince of Dubai], in October 2016, which aims to make Dubai the first government in the world to apply all transactions through this network by 2020, DLD created a smart and secure database that records all real estate contracts,” said Sultan Butti Bin Mejren, Director General of DLD. “This makes DLD the first government entity in the world to implement all of its transactions through the Blockchain network. As the system simplifies people’s lives by using an integrated system, we are working directly with Smart Dubai to provide our customers with utmost satisfaction and avoid wasting their valuable time. This is a major step toward cementing Dubai’s position as the world’s smartest city, expanding our online partnerships with all government entities and real estate parties that our customers need to complete their transactions.”