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February 24, 2020
The UAE plays an integral role in shaping the World Economic Forum’s initiative on designing tools and resources to support organizations and promote responsible blockchain deployment.
How blockchain can help businesses?
According to a joint research performed by the Centre for the Fourth Industrial Revolution UAE (C4IR UAE), Dubai Future Foundation (DFF) and the World Economic Forum, UAE could save over US$3 billion (AED11 billion) through implementing advanced blockchain technologies. In addition to the cost savings, the UAE government can eliminate 398 million printed documents and 77 million work hours per year through leveraging blockchain to process routine transactions. Currently, 80% of public and private sector entities are already using the technology.
Seven case studies have been documented to provide shared experiences in understanding fundamental challenges and success factors in deploying blockchain. The experiences of Emirates NBD, DP World, Emirates Airlines, and Etisalat Digital in the private sector, as well as Abu Dhabi Digital Authority, the Ministry of Health and Prevention and Smart Dubai among public sector entities have been recorded in the whitepaper.
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