Future Council approves plan to compile report on Dubai's cryptocurrency potential
The Dubai Future Council for Blockchain has approved three initiatives for 2019 at its second meeting, which brought together local and global decision-makers from various government departments and private companies.
The first initiative will be a report on Dubai’s cryptocurrency positioning while a Dubai Blockchain Implementation Policy and the a Future Landscape Report for Blockchain in Dubai were also backed by the the council.
Chaired by Smart Dubai’s director-general, Dr Aisha bint Butti bin Bishr, the council was formed by the Dubai Future Foundation, DFF, and held its inaugural meeting in April.
It is part of the Dubai Future Councils initiative, launched by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, to find innovative solutions for strategic sectors and forecast their future over the next 50 years.
Bishr said: "Blockchain is one of the most promising technologies to appear on the world stage in recent years and Dubai has already made remarkable accomplishments in the sector, launching a blockchain strategy and hosting international blockchain conferences that bring together influential international experts.
"The Dubai Future Councils initiative is another milestone to be added to Dubai’s journey towards excellence and future leadership," she added.
The meeting’s agenda also included agreeing on the formation of working groups for the initiatives, as well as setting delivery plans for each of them.
Wesam Lootah, CEO of the Smart Dubai Government Establishment, who also serves as the vice chair of the Dubai Future Council for Blockchain, said: "Blockchain technology is undoubtedly one of the most prominent breakthroughs of the past few years with a massive potential to transform many aspects of everyday life for individuals, organisations and governments alike. And unlike other places around the world, the UAE, and Dubai, in particular, have embraced blockchain early on."