The Smart Dubai Office (SDO) Group won the honors at the Smart Cities Expo and the World Congress in Barcelona, receiving the City Project Award among 308 The other teams for their Dubai Blockchain strategy.
The innovative Blockchain system is designed to allow the Dubai government to create a complete system so that all government transactions take place on encrypted databases by 2020. The project also hopes to create new standards for Blockchain technology. According to Wesam Lootah, CEO of SDO:
"At Smart Dubai, we plan to go beyond the simple application of Blockchain technology in our operations. In fact, we are currently working to define the first set of international standards for Blockchain application to the government. We are confident that our experience will inspire cities around the world and bring new opportunities to implement Blockchain in all areas of life.
Dubai has embraced blockchain technology and cryptocurrencies in a number of areas and appears to be a major contributor to the market in the future among national governments. Announces that the government would issue the very first state cryptocurrency shows tremendous levels of adoption.