Dubai is a city known for its extravagance and technology. Flying taxis, water jet firefighters, and robotic police are all parts of its current reality or future.
It would not be a surprise if they were simply looking into smart contracts and cryptocurrencies, but what many may not realize is that they also plan on being the world’s first blockchain-powered government. There are some immediate and obvious advantages to getting much of a nation’s citizenship and other tedious documents which require extensive reconciliation between various organizations onto a blockchain.
Distributed, decentralized ledgers offer numerous benefits for this kind of recordkeeping. Dubai plans to make the majority of city documentation powered by smart contracts by the year 2020.
This is ambitious, but not impossible. The various items that will find their way onto the blockchain by then are: visa applications, bill payments, and license renewals.
Essentially, anything that currently requires paperwork will likely end up on the blockchain between now and 2020. This makes an incredible amount of sense, and the amount of money saved by cutting down on man-hours and labor costs is significant. Read more from themerkle.com…
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