Dubai could be launching the first blockchain based legal system soon. Smart Dubai and Dubai International Financial Centre (DIFC) have entered an alliance to establish the first-ever "court of the blockchain" with a decentralized information management system in the country.
For legal processes, the new system would use a distributed ledger system which would limit gaining and controlling access to such files, reduce the chance of duplication and hence make management of the judicial system of the county effective and efficient.
The aim of the partnership is to make the system versatile enough to deal with the technological advancements and resolve the issues they have to deal with on daily basis with respect to the new age. They are faced with issues like debt collection, employee disputes, civil and commercial disputes, financial transactions etc. With time, the solution for each of the tasks have different, new, upgraded solutions and Dubai is the first country to act fast enough to keep up with the changes.
“Led by the ambitious vision of our leadership, Smart Dubai has set out to transform the emirate into a fully-fledged smart city where all services are digitized. The emirate has become a global trailblazer in embracing advanced technologies and steering them towards the safety, comfort, and happiness of our city’s residents and visitors. One of the most notable of these innovations is Blockchain, where the Dubai Blockchain Strategy seeks to run 100% of applicable government transactions on Blockchain by 2020.” said Aisha Bint Butti Bin Bishr, Director General of the Smart Dubai Office.
Read more on DIFC’s official
website.
