Could Dubai Become The First Fully Blockchain Powered City By 2020?

When anyone thinks of Dubai, they picture hotel living, skyscrapers, billionaires and sports cars littering the streets. To add to all of that, did you know that there are plans in motion to transform Dubai into the world’s first fully blockchain-powered city by 2020?

Dr Aisha Bint Butti Bin Bishr, The Director-General of Smart Dubai firmly believes that Dubai is a prime position to become a blockchain and crypto metropolis that could become a fully blockchain-powered smart city in the next few years.

The UAE’s First Blockchain Smart City:

Smart Dubai are the people behind the Global Blockchain Challenge, which is a blockchain competition with the core purpose of hunting down the most innovative blockchain startups from around the globe and to entice them to create HQ’s in Dubai.

Dr Aisha Bint Butti Bin Bishr had very positive sentiment around Dubai’s potential for crypto 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 utilising them to create an advanced, connected and seamless urban experience for its residents and visitors.

Enticing some of the freshest and innovative blockchain startups to Dubai is part of a bigger plan dubbed the Dubai Blockchain Strategy 2020.

This plan was initially announced to the public by Smart Dubai and the Dubai Future Foundation earlier this year and both organisations are set on transforming Dubai into the first ever blockchain powered city by as early as 2020.

The Global Dubai Blockchain Challenge In A Nutshell:

The next round of the Global Blockchain Challenge will take place at the Future Blockchain Summit on April 2nd and 3rd 2019 at the Dubai World Trade Centre. This competition is a joint effort between Smart Dubai & Dubai Future Accelerators (DFA) which forms part of an initiative of the Dubai Future Foundation (DFF).

The successful blockchain startups who make it through the preliminary stages of the contest will be invited to train in Dubai with the DFA and will also be introduced the culture of the UAE. The three final winners of the competition will also receive the opportunity to sell their products and implement their services in Dubai itself. Furthermore, the winner will receive $20,000 in cash, with second place winning $15 000 and third place $10 000.

Last year’s Future Dubai Blockchain attracted more than 8000 attendees, 130 crypto/blockchain startups, as well as over 140 speakers and this year’s summit, promises more.

Yes, you’re probably thinking that the notion of Dubai becoming the first ever blockchain powered city by 2020 is ludicrous, and while it is highly unlikely that this goal will be attained by next, the city’s bold ambitions and economic prowess definitely gives them a fighting chance to achieve this, if not by next year at least in the next decade.

Do you think Dubai will achieve this ambitious goal by next year? Let us know your thoughts by leaving a comment below.