Dubai Economic Department Joins Blockchain Business Registry
In a recent development, the economic department of Dubai has joined the Unified Business Registry Platform (UBRP) built on the Blockchain platform as a Service (BPaaS).
The main goal of developing this platform is to improve the business infrastructure in Dubai. It will help license issuers in managing trade licenses and corporate registries. The Dubai government is planning to host 40 government entities on UBRP.
The CEO of Dubai Economy’s Corporate Support Services, Abdullah Hassan, said that the UBRP is an innovative platform to uplift the Dubai Economy in its digital world. They are happy and proud to be the first blockchain-powered government in the world. According to the UAE vision 2021, the Dubai economy is looking for innovative solutions to streamline the future government.
According to Abdullah, the BPaaS by Dubai Pulse will develop a regulation model to improve the businesses in Dubai. It will make the state a better place for citizens and companies. The two protocols of Dubai Pulse are Hyperledger Fabric and Ethereum enterprise clients. The platform provides many features to adapt new entities with their capabilities on external infrastructure.
The CEO of Smart Dubai Government Establishment, Wesam Lootah, said that the Dubai Pulse platform is successful enough to change the capabilities of the government entities and organizations. Many government bodies are enjoying the benefits from the UBRP platform, and they are more close to the smart and digital Dubai.
This platform provides various features like compatibility among all the protocols of blockchain, privacy & security of the organization, and Smart Contract repositories & service on demand. It helps people to accept the blockchain technology and amplify the adaptability through hybrid architecture in less ownership cost.
This platform leads to the overall development of the Dubai Economy with its features to adapt to the blockchain. It will make people and organizations of Dubai happy and digitally smart.