Licences will hop on blockchain
Dubai Pulse — an innovative Blockchain Platform as a Service (BPaaS) born from a joint initiative of Smart Dubai and du – hosts the Unified Business Registry Platform (UBRP) that allows government authorities to manage their trade licenses and corporate registries on the blockchain platform.
This UBRP now has four government entities on board: the Dubai Silicon Oasis Authority, Dubai Electricity and Water Authority (DEWA), and the Dubai Multi Commodities Centre (DMCC), along with Dubai Economy, who is the latest federal entity to move to the platform.
The recent addition of Dubai Economy was announced during GITEX Technology Week 2019.
“Dubai Economy is moving to the next level of its digital transformation with the Unified Business Registry Platform and we are proud to be in the forefront of Dubai’s march to being the world’s first blockchain powered government. At Dubai Economy, we are always looking to our partners for smart solutions that will simplify, secure, and streamline the future government leading up to the UAE Vision 2021,” said Abdullah Hassan, CEO of the Corporate Support Services sector in Dubai Economy.
The UBRP aims to have 40 government entities on board. The BPaaS model enables the government entities to have a unified and transparent business registry; thereby supporting a better regulation model.
The platform that was launched by Dubai Pulse in 2018, is the first locally-hosted BPaaS in the UAE, using Hyperledger fabric and an enterprise client of Ethereum, the popular blockchain platform.
Some of the extra features of the platform include compatibility and interoperability across blockchain protocols, enterprise security and privacy, Smart Contract repositories as well as on-demand Smart Contract-as-a-service.
This is a huge step forward in the realisation of the objectives of Dubai’s paperless strategy and blockchain strategy.
With a wide range of features, the UBRP will transparently facilitate scalability and onboarding of new entities, as well as support the accelerated adoption of blockchain technology while maximising flexibility its hybrid architecture — all at a reduced total cost of ownership. Through all of this, the platform will also improve the overall business ecosystem of Dubai, by providing on-board authorities a way to transparently validate trade licenses and business transactions.
Wesam Lootah, CEO of Smart Dubai Government Establishment, said, “Many government entities are enjoying the innovative value of the platform and, with the Unified Business Registry Platform, we are another step closer to realising the vision for a happier, smarter, and more digitally-enabled Dubai.”