News

Dubai will use blockchain for government documents

BitcoinDubai is seeking to gain a reputation for financial technology with a plan to use a blockchain system for government documents. A form of distributed ledger technology, blockchain gained notoriety as the database system underlying Bitcoin and other crypto-currencies. According to report by the UAE's official news agency, the proposed blockchain system will allow personal and business data in the country to be accessible to all government entities, banks, insurance firms and others by 2020. "We have directed the Dubai Future Foundation to oversee the strategy and to benefit from the expertise it accumulated through the initiatives of the Global Blockchain Council," said Hamdan Al Maktoum, the crown prince of Dubai, in the report. Although it is closely associated with Bitcoin, blockchain technology has applications for a wide range of activities beyond crypto-currencies. These include the clearing and settlement of transactions, collecting royalties on music or videos, and management of dividend payments. ©2016 funds global mena

Executive Interviews

INTERVIEW: Totally mega

Jun 13, 2018

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

INTERVIEW: Protecting the investment

Nov 23, 2017

Rasmala’s trade finance fund recently passed $100 million in assets. Doug Bitcon, head of credit strategies, explains why he has to be hands-on.

Roundtables

MENA ROUNDTABLE: ‘The story is about reforms’

Jun 13, 2018

Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.

SOUTH AFRICA ROUNDTABLE: Airline syndrome

Jun 13, 2018

Our panellists tell us that instead of launching competing national projects, African countries should work together for the sake of a bigger capital market. Chaired by George Mitton in Cape Town.