Governments and businesses are looking for different ways to derive maximum benefit from blockchain technology. Dubai announced the creation of a virtual business platform to business (B2B) in the travel. It is part of the initiatives of Dubai 10X, promoted by the government.

Dubai the center of Blockchain technology

The main goal of the project is to add an additional sales channel for hotels. The first phase of the project is ready for testing. The heads of tourism commented that Dubai is trying to give travelers a direct choice on the local market.

“Dubai is positioning itself as an analytical center and innovative leader who seeks to truly democratize the trip,” — said in a statement about the project.

The initiative is to provide a solution via the blockchain with smart contracts between the various parties involved in the choice of itinerary. Prices are much more transparent, allowing travelers to choose a more suitable trip for them and their families or friends.

This market allows smaller companies to participate side by side with larger. This means that even smaller players in the industry will have the same ability to attract customers. Moreover, more and more companies that were previously excluded from the market, will now be able to participate and offer their suggestions. This will increase the number of employees and economic activity.

Helal Saeed Almarri, Director General, Dubai Tourism, commented:

“We at Dubai Tourism decided to gain a reputation as world leaders in innovation in the field of tourism, which greatly speeds up our “digital, mobile and social” strategy. Today, the journey has been undergoing one of the most strong sectoral reforms, radical changes in technological solutions in all aspects of the consumer journey.”

His Highness Sheikh Hamdan bin Mohammed bin Rashid al Maktoum explained during the launch of the project 10X, innovative model that reflects the creative potential of the nation. The main goal is to develop public services, turning innovative ideas.

Tourism in Dubai will be in close contact with all regulatory agencies. Recall that Dubai is very affordable applies to cryptocurrencies, recently in Dubai 50 sold real estate for Bitcoin.