Dubai Government Unveils Blockchain Business Registry

Dubai's government is using blockchain technology to make it easier for companies to set up and operate in the country. According to an announcement on Tuesday, the country's Department of Economic Development (DED) has teamed up with the Dubai Silicon Oasis Authority (DSOA), as well as the Smart Dubai initiative and IBM, to develop a commercial business registry built with blockchain. The platform - called Dubai Blockchain Business Registry - is aimed to streamline the process of establishing and operating a business in Dubai, as well as to ensure regulatory compliance and help firms gain direct investments from overseas. The government announcement states: "The collaborative effort will streamline the process of setting up and operating a business, roll out digital exchange of trade licenses and related documentation for all business activities, and ensure regulatory compliance across Dubai's business ecosystem." Dubai Silicon Oasis (DSO), the country's technology free-zone, will be the…

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