UAE government to save $3bn in economic returns per year from blockchain technology: Omar Al Olama


DUBAI, 3rd May, 2018 (WAM) -- The UAE government stands to save $3bn in economic returns and 389 million in government documents alone per year, from blockchain technology, said Minister of State for Artificial Intelligence Omar bin Sultan Al Olama, while delivering a keynote address on the UAE Blockchain Strategy 2021 at the first Future Blockchain Summit in Dubai.

Dubai is seeking to establish the Emirate as the first city to be fully powered by blockchain by 2020,with crypto technology smack in the middle of it.

What has already come out from the first Future Blockchain Summit in Dubai is setting the stage for a full on adoption of crypto technology in the UAE, starting 2018.

‘’Today, Artificial Intelligence (AI) and blockchain are two of the most powerful technologies that are revolutionizing the pace of innovation in the UAE. We believe that AI will be a strong ally for blockchain and will play a pivotal role in the UAE Blockchain Strategy 2021," he added.

Future Blockchain Summit is the gateway to the world's most advanced blockchain government and a meeting ground for industry leaders and tech start-ups.

During two days more than 1500 people will hear from over 60 speakers specialising in all areas of the blockchain ecosystem.

Throughout the two days you can connect with the blockchain leaders of the Dubai government and cutting edge global and startup tech leaders.

WAM/Tariq alfaham/Hassan Bashir