Dubai Launches Blockchain Business Registry To Ease Market Entry

Dubai has partnered with IBM to launch a Blockchain registry that will help businesses operate under its jurisdiction. The latest step in the city’s 2020 Blockchain Strategy was announced in an official press release May 1.The Dubai Blockchain Business Registry Project will also see involvement from Smart Dubai and Dubai Silicon Oasis Authority (DSOA), while the government input comes in the form of the Department of Economic Development (DED).Together, they will seek to add extra features to Dubai’s extant blockchain for business project known as Unified Commercial Registry (UCR).The Registry will store registration information from companies, as well as keep track of changes, and thus “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,” the press release explains.Dubai’s 2020 Blockchain Strategy has made steady progress since…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE