Dubai Partners With IBM to Launch Blockchain Registry

Dubai-Partners-With-IBM-to-Launch-blockchain-registry

Dubai recently partnered up with IBM in order to launch a blockchain Registry. This registry will enable businesses to operate within its jurisdiction. This is the latest step in Dubai’s 2020 Blockchain Strategy which was officially announced according to this press release on May 1.

This registry will store a host of information from several different companies as well as keep track of the company changes. This will enable the registry to streamline the process of setting up and operating a business within Dubai.

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It will also enable trade licenses for digital exchanges as well as related documentation for any business activity. Most importantly, the registry will ensure that all regulation compliance is adhered to within Dubai’s business ecosystem.

The city of Dubai aims to transform the city into a hub of technology and has made steady progress on its 2020 Blockchain Strategy since it began in 2016.

IBM Middle East’s General Manager Amr Refaat states “Dubai is a leader in innovation. We have many ambitious projects on the horizon and even more that have become a reality”.

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