- October 10, 2019
- Posted by: admin
- Category: Hot
DUBAI – Dubai’s economy has announced its move to the Unified Business Registry Platform (UBRP) held on the Dubai Pulse Blockchain as Service (BPaaS) Platform, a joint initiative of Smart Dubai and du. UBRP will enable local and federal entities to provide a uniform and transparent business outlook in Dubai and form a better regulatory model.
Announced during GITEX Technology Week 2019, the BPaaS network is a blockchain solution that allows license issuers to manage their company trading and registration licenses. This solution has three entities – the Dubai Oasis Silicon Authority, the Dubai Electricity and Water Authority (DEWA) and the Dubai Multi Commodities Center (DMCC) – have joined UBRP and BPaaS aiming to host 40 government entities on the platform.
Abdullah Hassan, CEO of the Corporate Support Services sector in Dubai Economy, said: “Dubai’s economy is moving to the next level of its digital transformation with the Unified Business Registry Platform and we are proud to be at the forefront of the Dubai march to be at the forefront. the first blockchain-powered government in the world. At Dubai Economy, we are always looking for our partners for smart solutions that will simplify, secure and streamline future governments that lead to UAE Vision 2021 ”
Hassan added that the exceptional BPaaS product from Dubai Pulse will enhance business prospects for Dubai by activating a better regulatory model through an integrated and transparent business registry. “We are very pleased to have Dubai Pulse supporting us in achieving this goal and believe it will greatly strengthen Dubai as the preferred place to live and do business in the UAE.”
Wesam Lootah, CEO of Smart Dubai Government Establishment, said: “The success of the flagship Dubai Pulse platform means that it is now a mainstay for all government entities and companies that want to take advantage of their transformative capabilities. Many government entities enjoy the innovative value of the platform and, with the Unified Business Registry Platform, we are one step closer to realizing a vision for a happier, smarter, and more digitally active Dubai. ”
Badr Buhannad, Executive Vice President of Strategy, Business Services & RM at DSOA, said: “DSOA is highly valued for its pioneering role as a test bed for disruptive technology, especially in the AI, blockchain and smart city areas. In 2018, it was the first free zone to implement UBRP in collaboration with Dubai Economy. Today, we are pleased to see this project rise to the next level through its integration with Dubai Pulse. ”
He added: “The DSOA is proud to be one of the first entities to join the BPaaS network which supports the Dubai Paperless Strategy, announced by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai and Chair of the Executive Board, to build a paperless government framework which is seamlessly integrated. We are confident that this project will consolidate Dubai’s reputation as a global smart economy leader in line with our leadership vision for smart governments that adopt advanced technology to improve efficiency. ”
The solution, built on BPaaS Dubai Pulse, is the first BPaaS hosted locally in the UAE that serves two different protocols: Hyperledger fabric and the Ethereum corporate client. With a variety of features, this platform will facilitate scalability and orientation of new entities, with the ability for entity nodes to be hosted on Dubai Pulse or on external infrastructure.
Farid Faraidooni, Deputy CEO of EITC, du, said: “At du, we are deeply immersed in opening up the benefits of the blockchain to empower government entities and companies in the UAE. With the launch of our BPaaS in 2018, we continue to illustrate the evidence points and use cases – cases of how this formative technology can produce real-world solutions to real-world challenges. We are proud to connect the UAE sector with the future of technology and we hope to facilitate UCR travel for dozens of other government entities. ”
Additional innovative platform features include compatibility and interoperability across blockchain protocols, enterprise security and privacy, Smart Contract repositories and Smart Contracts as on-demand services. This will also help accelerate the adoption of blockchain technology and maximize flexibility through hybrid architecture, all at a lower total cost of ownership.
This solution also aims to improve the overall business ecosystem by having the authority of the NOC and other service providers to validate trade licenses and business transactions.
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