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Will Dubai be the first blockchain powered city in 2020?

BlockClutch Team

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Will Dubai be the first blockchain powered city in 2020

When we think of Dubai, we believe of Arab billionaire lifestyles, 6-star resorts, and awe-inspiring skyscrapers. But were you aware that programs are set up to turn Dubai into the very first blockchain-powered town by 2020?

The Director-General of Smart Dubai, Dr. Aisha Bint Butti Bin Bishr, considers that town is in prime position to establish itself as a blockchain and crypto epicenter which can develop into a fully-integrated blockchain bright city within another few years.

Blockchain Smart City in the UAE

Smart Dubai will be the organizers of this worldwide Blockchain Challenge, and this will be a blockchain-related contest geared to locating the very advanced blockchain startups from throughout the globe and to lure them to function in Dubai.

Dr. Aisha Bint Butti Bin Bishr had some very optimistic words to state in relation to Dubai’s possibility of crypto-related companies:

Dubai has established itself, and in record time, as a global destination for innovators and entrepreneurs in the Blockchain industry. Guided by the vision of our leadership, the emirate has become synonymous with bravely embracing avant-garde technologies and utilizing them to create an advanced, connected and seamless urban experience for its residents and visitors.

Also Read: Chilean Treasury releases Blockchain Platform to process public payments

Attracting some of the most recent and most advanced blockchain startups into Dubai is a part of this bigger plan known as the Dubai Blockchain Strategy 2020.

The strategy was originally declared by Smart Dubai and the Dubai Future Foundation earlier this season and is determined by making Dubai the very first ever blockchain-powered town from 2020.

Global Dubai Blockchain Challenge

The next round of this Worldwide Blockchain Challenge will be Happening in the Future Blockchain Summit on April 2-3, 2019, in the Dubai World Trade Center. The contest is a joint alliance involving Smart Dubai and Dubai Future Accelerators (DFA), which is an initiative of the Dubai Future Foundation (DFF).

Successful blockchain-related startups who pass the preliminary phases of the contest will be encouraged to train in Dubai together with all the DFA and will get an introduction into the UAE culture. The 3 winners of this contest will even get the chance to market and execute their services and products in Dubai. The winner of this contest will get $20,000 in money, whereas the second and third place will get $15,000 and $10,000 respectively.

The 2018 Future Dubai Blockchain Summit attracted over 8,000 attendees, 130 crypto-related startups and more than 140 speakers, also this year’s event promises the same.

Also Read: Overstock will be the first major firm to pay state taxes in Bitcoin

Even though it appears unlikely that Dubai is now the first blockchain-powered town by 2020, their ambition and economic might will give them an edge in their pursuit of blockchain technology invention.

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