According to the April 11 news of the Dubai Media Office, Sheikh Mohammad Bin Rashid of the United Arab Emirates launched “UAE Blockchain Strategy 2021” with the goal of becoming world leader in adopting technology.
During the launch of UAE Blockchain Strategy 2021, Sheikh Muhammad bin Rashid stated that the adoption of block-chain technology will support the government’s readiness for future challenges and the government will save 11 billion AED a year (about $ 3 billion). He also said that the adoption of this technology will save millions of working hours and reduce government documents by 389 million.
Their strategies are based on four fundamental principles that are “based on citizen and citizen’s happiness, government productivity, advanced legislation and global entrepreneurship”.
In order to sustain the blockchain technology, The United Arab Emirates government is thinking about supporting university education on topics such as courses, events, reports, field specialization, and encryption. Also, the Road and Transportation Authority in Dubai announced plans to launch a block-chain-based vehicle life cycle management system in 2020.