The platform is designed to simplify the process of registration and operation of companies in Dubai

Dubai has created a blockchain-registry for business. So, today, may 3, it became known that the Ministry of economic development of the United Arab Emirates with the support of the DSOA, the initiative group of Smart Dubai and IBM have developed commercial blockchain-registry for business. This writes

According to preliminary data, the platform Dubai Blockchain Business Registry is needed in order to simplify the process of registration and operation of companies in Dubai.

Moreover, it is noted that also the platform will ensure regulatory compliance and help companies in obtaining foreign direct investment.

DED representatives say that this platform will facilitate the establishment and operation of business will launch digital exchange of trade licenses and the appropriate documentation for all activities. Besides, we are talking about the enforcement of regulatory standards across the business ecosystem of Dubai.

According to preliminary data, the draft will be first deployed in the “Silicon oasis” Dubai, and later from other companies will be able to solicit and publish registry data.

By the way, the creation of this registry is part of the developed blockchain-strategy of Dubai, which was launched in 2016. Earlier it was reported that the strategy to 2020 will ensure the implementation of technology in all public services.