Bitdeal a reputed blockchain development company in Dubai, UAE expands its blockchain development services in and around Dubai, to favor the key industries like real estate, IT, Construction, Oil and Gas, Consultancies, Automotive, Healthcare, Transportation and more. Before briefing about our blockchain development services in Dubai, let us explain why we choose UAE as a promising marketplace.
UAE, one of the richest countries in the world, which is considered to be the most promising industrial space for real estate, construction industries, fuel and energy production industries and more. The country has already become smarter with upgraded technologies, but it's time for Dubai to become more smarter and to move towards decentralization along with the distributed ledger technology “Blockchain”.
The UAE government has proposed and launched the Emirates Blockchain Strategy 2021, which is to fulfill the vision of making dubai as the first blockchain powered smart city by 2020. This strategy has a goal of capitalizing blockchain technology to migrate almost 50% of government transactions on the layer of blockchain protocols before 2021.
By adopting blockchain technology, the UAE is expecting to save time, effort and resources in millions. Hence the
Emirates government can meet the below goals with blockchain adoption.
By initializing the technology, people or customers in UAE will be provided with a unique identification number that can’t be modified or hacked. This can ensure the digital security of the country’s national documents, transactions, to accelerate decision making by reducing the cost of operations.
Additionally this plan of adopting blockchain technology focusing on Four Pillars Of UAE
1.Citizens and resident happiness
Reference: wam.ae
We have already published a brief article covering the cryptocurrency & blockchain regulations in UAE, where you can refer more. Besides, that i just want to point out some information here, that we have missed out in the previous article.
The UAE, Securities and commodities authority, government body of financial markets have issued a circular pointing out warning against investors who are involved in digital fundraising like ICO’s. It is clearly shown that ICO’s are not subjected to government rules.
Followed by the launch of Emirates Blockchain Strategy, the Dubai Land Department has developed its blockchain system to record all real estate contracts, where they can connect DLD with Energy, Water & Fuel authority companies.
Dubai legal sector has proposed the use of smart contracts on the blockchain, to automatically verify and executes a transaction on agreed terms.
Just like the other countries UAE also has significant taxation on cryptocurrencies only If the digital or virtual currencies are used to purchase goods and services.
The anti-money laundering law in UAE proposes certain limits on daily individual transactions. and the AML law has a lot of definitions and it almost covers the characteristics and fund transactions on cryptocurrencies.
Source: globallegalinsights.com
The proposed legislation laws and emirates blockchain strategy are having a goal of encouraging blockchain startups and enlightens the blockchain-related projects. So, this free space for blockchain technology in UAE can revamp and modernize most of the key industries in and around the middle east countries.
These are the most identifiable industries that become the backbone of Dubai's strong economy. The Empowerment of Blockchain strategy In Dubai could move the entire industrial sectors into a smart decentralized ecosystem inside the country.
The true mark of our quality blockchain development services all around the world has motivated us to make a strong presence in “Dubai move towards blockchain technology” after the launch of blockchain strategy 2021.
We expand our primary blockchain development services in Dubai, UAE to give warm hands to the clients who just want to leverage the country's free space for blockchain startups. Our team of experts has already committed to some promising blockchain projects after attending the World Blockchain Summit which is recently staged at Jumeirah Emirates Towers, Dubai. Our en-voyage to the goal full Blockchain conference in Dubai, has given wider vision and promising opportunities for us to serve the best in blockchain technology for the clients who reside in UAE.
And more.
Originally published at : Blockchain Development Company In Dubai, UAE
