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UAE’s Ministry of Health and Prevention Instigates First-Ever Blockchain Network

On September 18, the Ministry of Health and Prevention in the United Arab Emirates (UAE) announced that it had established a blockchain system intended at sharing and saving assessment information among health practitioners, such as technicians, pharmacists, nurses, and doctors.

The Ministry proclaims that blockchain technology will transform this sector by improving data integrity and efficiency. Additionally, the costs and time spent will be reduced. The network will cover health practitioners both in the public and private areas.

According to Awad Saghir Al Ketbi, the Ministry’s Under-Secretary, the health network will be instrumental in propelling the Emirates Blockchain Strategy 2021 whose objective is the adoption of blockchain technology in at least 50% of government undertakings by 2021.

Al Ketbi notes:

“The Ministry has successfully developed the necessary infrastructure for a blockchain-based decentralized database. In the first stage, we will link the system of evaluation of health workers with public and private health authorities and other relevant institutions to create a single digital platform with access to the portfolio of health professionals.”

Similar sentiments are shared by the Health Ministry’s Director of Information Technology, Mubaraka Ibrahim, who asserts that blockchain technology will be instrumental in information consistency and validation. As a result, trust and transparency in the nation’s healthcare sector will be inevitable.

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Abu Dhabi to Integrate Land Records on the Blockchain Platform

The capital of the United Arab Emirates (UAE), Abu Dhabi has revealed its intentions of putting its land registry system on the blockchain.

In a bid to achieve this objective effortlessly, the department of Urban planning and municipalities had gone into partnership with the Indian IT firm Tech Mahindra. According to a press release that was shared on Monday, the government agency which is responsible for Abu Dhabi’s development strategy wants to provide its citizens with a blockchain-based solution which it refers to as SmartHub. It claimed that this system would help tremendously in tracing land records and processing real estate transactions as only a little fraction of the time will be used in the future.

This solution is hoped to be achieved by storing all the property-related documents that have been issued by the municipality on the decentralized ledger technology and records would be tracked via nodes extended to different entities.

Ahmad Abdolsamad AlHammadi, CIO of Abu Dhabi Municipality, said on behalf of the department:

“The implementation of next-gen technologies like Blockchain and SmartHub digital services will help serving a wider segment of citizens enhancing customer happiness, quality of life and accessibility of our services”

He also added that:

“This would be [the] beginning of many more services that we plan to roll out during the course of the year,” he said without further details.

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Arab's Financial Security Publishes a Tentative Draft Resolution for Crypto Regulations

On Oct.15th, the Securities and Commodities Authority (SCA), an organization responsible for regulating and developing the financial market of the United Arab Emirates, released a draft on its website containing their tentative resolutions on how the crypto market will be regulated.

In line with the report, the 28 articles contained in the draft resolution address the United Arab Emirates’ crypto assets industry ranging from the requirements for token issuers, to safe circulation and custodial policies or practices, measures for protecting investors’ interests and compliance with fighting financial crimes, information security controls, as well as technology governance standards, and performance for every market intermediaries.

SCA opened a door for fair opinions for all the capital market participants in the state. This includes dealers of different categories such as investors, intermediaries, financial analysts, researchers, media and interested parties. SCA claimed that the observations, contributions, and proposals of these participants are to be taken into consideration when they will be preparing the final wording of the resolution. These participants are enjoyed to review the contents of the draft and air their opinions or views by no later than 29 October this is to enable them to get familiarized with the findings of the industry and the opinions of participants in the market.

The report has also noted that the draft set parameters and criteria for enough participants such as: token issuers; investors; custodians; crypto trading platforms; brokers, and promoters in the industry. And thus, once the regulation is enforced, market participants will be able to request the SCA’s guidance on a specific issuance of symbolic instruments or regulatory requirements through its services system.

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Dubai’s Blockchain Market to Surpass $118 Million by 2025

Smart Dubai, a government entity established in 2013 to make Dubai a smart city, has revealed that the application of blockchain technologies in the city will increase to Dh437 million, around $118 million, by 2025 from Dh 35 million, approximately $95 million, recorded in 2018. This upward trend will make Dubai account for about 1% of the global blockchain value.

Smart Dubai executives noted at the Dubai Blockchain Strategy 2020 that out of 8,000 worldwide blockchain companies, 114 or 1.4% of them are based in Dubai.

Dubai’s strategies of being a blockchain hub

One of Smart Dubai’s primary objectives is to make Dubai the happiest city globally. This goal is to be achieved by leveraging on technological advancements, such as blockchain.

In October 2016, the Crown Prince of Dubai, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, announced that Dubai would be powered via blockchain. By 2021, it is expected to be the first city to be fully powered by blockchain.

Smart Dubai noted, “Adopting Blockchain technology Dubai stands to unlock 5.5 billion dirhams, approximately $1.5 billion in savings annually in document processing alone — equal to the one Burj Khalifa’s worth of value every year.”

Nearly 24 blockchain use cases are being implemented across eight sectors. This initiative is touted to be instrumental in propelling Dubai’s smart city transformation efforts in 2020.

Dr. Aisha Bint Butti Bin Bishr, director-general of the Smart Dubai Department, affirmed, “We accomplished what we promised of building a holistic blockchain ecosystem in Dubai. We have been working with government and private sector partners to identify a series of use cases across multiple sectors. Blockchain cannot solve everything, and we need to be wise in selecting these use cases. That is what we have done here.”

The shared Dubai blockchain platform was established in collaboration with IBM to permit government entities to build use cases without necessarily investing in individual infrastructure.

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UAE Health Authorities Launch Blockchain-Based Platform for Verifying Health Data Validity and Reliability

The United Arab Emirates (UAE) Ministry of Health and Prevention (MoHAP), the Ministry of Presidential Affairs, Dubai Healthcare City, and other authorities have come together to launch a blockchain-based system for health data storage.

The blockchain-based platform has been created to improve the efficiencies of smart healthcare services and to streamline the search of health facilities as well as to be able to look for its licensed and technical personnel.

The Emirates News Agency reported by raising the efficiency of MoHAP and health authorities’ smart health services; it is in line with the outcomes with the annual meetings of the UAE government. The blockchain-based platform is also part of MoHAP’s plans to incorporate artificial intelligence “by 100% into the health services, pursuant to the UAE Artificial Intelligence Strategy.”

Information about any medication, including the details in the supply chain: the manufacturer, the active substance, the price, the approved agency, and the possibilities in methods of use will be made available.

Dr. Lubna Al Shaali, the Director of Public Health Policy Department, stated, “This blockchain-based platform would help secure an unchangeable, decentralized and encrypted database with high-security protection to verify data validity and reliability.” She concluded that by using blockchain technology, data and information verification processes would be improved and made more consistent, providing more transparency and confidence in the healthcare sector.

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Mashreq Bank and DIFC Launch First KYC Blockchain Platform in UAE

Dubai International Financial Centre (DIFC) and Mashreq Bank announced the launch of the region’s first blockchain data-sharing platform which went live on March 1.

The initiative, known as Know Your Customer (KYC), supports licensed businesses and corporations when opening digital bank accounts by leveraging blockchain to allow instant identity verification.

According to the publication, the new platform was unveiled as a market-first of its kind in the Middle East and utilizes the blockchain of DIFC-incubated fintech firm Norbloc. Deloitte also supported Mashreq in establishing governance and in managing the program implementation.

The instant identity verification is facilitated by removing the existing paper-based KYC procedure and replacing it with a blockchain-centric digital one. DIFC prepares the KYC record during the corporate license application and is shared electronically via blockchain with Mashreq, with customer consent, simplifying the process of opening a bank account. The KYC solution is designed to stimulate the corporate ecosystem and is available to all qualified financial institutions/licensing authorities and supports connectivity with other similar initiatives.

Ahmed Abldelaal, CEO, Mashreq Bank said, “The program aligns with the UAE Blockchain Strategy 2021, earmarking the beginning of a journey towards a broader vision of forming a Consortium of Banks, Government Bodies as well as other Licensing Authorities, for seamless sharing of customer KYC data, thus leading to increased transparency, added security and a better customer experience.”

DIFC’s data protection laws are in line with international best practice standards and is consistent with EU regulations and OECD guidelines. The legal framework is designed to balance the needs of businesses and organizations to process personal information while upholding an individual’s right to privacy.

Progress in UAE Blockchain Strategy

The UAE has been making steady progress in the implementation of blockchain technologies, in line with the UAE Blockchain Strategy 2021.

Recently, the UAE Ministry of Health and Prevention (MoHAP), the Ministry of Presidential Affairs, Dubai Healthcare City, and other authorities came together to launch a blockchain-based system for health data storage.

As reported by Blockchain.News, the blockchain-based platform has been created to improve the efficiencies of smart healthcare services and to streamline the search of health facilities as well as to be able to look for its licensed and technical personnel.

An Emirates News Agency reported by raising the efficiency of MoHAP and health authorities’ smart health services; it is in line with the outcomes with the annual meetings of the UAE government. The blockchain-based platform is also part of MoHAP’s plans to incorporate artificial intelligence “by 100% into the health services, pursuant to the UAE Artificial Intelligence Strategy.”

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UAE Leverages Blockchain, Robotics and 3D Printing to Flatten Coronavirus Curve

The United Arab Emirates (UAE), through in5, a startup incubator for nurturing businesses and ideas, is deploying blockchain, robotics, and 3D printing technologies to instigate the wellbeing and safety of its citizens amid the coronavirus (COVID-19) pandemic.

Blockchain-enabled biometrics

Liber Health, an in5 startup, is using a blockchain-powered biometrics platform for patient identification located in Dubai Internet City. It has been able to create a contactless IRIS identification initiative for recognizing patient data by leveraging on blockchain technology. This approach is safer than other biometric identification networks like fingerprint scanners, which have a high probability of spreading pathogens, and this would be counterproductive in stemming COVID-19.

The Managing Director of Dubai Media City, Majed Al Suwaidi, noted, “Dubai has always been a hub for talent, and we enable highly-skilled individuals with innovative ideas to thrive across our sector-focused ecosystems. Some of the sharpest minds are now creating potentially life-saving products and services to beat the virus, while others are proactively reaching out to relevant authorities to provide knowledge and expertise.”

According to Liber Health CEO, Abrar Ahmed, the blockchain-enabled biometrics platform could be instrumental in saving the many lives lost because of medical errors triggered by the absence of auditable health records.

Scalable network

The blockchain-based network is globally compatible and scalable to any healthcare application and electronic medical record (EMR) system.

Another In5 startup called 3Dinova is 3D printing face masks for health practitioners because of the high demand for personal protective equipment (PPE). On the other hand, Junkbot, a hardware technology firm, is encouraging children to participate in the Fight Corona Robotic Championship by developing robotics from recycled house materials.

The blockchain platform seeks to limit contact when taking patients’ biometrics as this approach is necessitated in flattening the coronavirus curve by limiting new cases. Recently, HashCash Consultants revealed its intention of revamping the complicated process of drug research, vaccine development, and clinical trials by presenting blockchain solutions.

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Dubai Economy Gets Powered by UAE KYC Blockchain Platform for Safe Digital Customer Onboarding

The Dubai economy has gone live on the UAE KYC (Know-Your-Customer) blockchain platform making instant bank accounting functionality, secure digital customer onboarding, and sharing of verified data between financial institutions and licensing authorities possible.

As reported by local outlet Khaleej Times on July 28, this initiative is powered by norbloc, a leading blockchain KYC technology firm.

Blockchain-based ecosystem

Emirates NBD, a leading bank in the UAE, is the first banking group to be part of the project based on its active and operational bank accounts. Other banks like Commercial Bank of Dubai, RAKBANK, HSBC, and ADCB are expected to follow suit.

This blockchain-enabled ecosystem is set to be adopted nationwide in the exchange of authentic KYC data as it is already supported by the Central Bank of UAE and Smart Dubai.

The CEO of Business Registration & Licensing (BRL) field in Dubai Economy, Omar Bushahab, noted, “We are very proud to announce that the UAE KYC Blockchain Platform is now production-ready with over 120 companies already instantly onboarded by Emirates NBD with active and operational bank accounts.”

He added, “This marks a key milestone in establishing a UAE-wide ecosystem for KYC data sharing and instant digital onboarding of companies by financial institutions. It is in alignment with the government’s vision around digitization and paperless as crucial strategies that enable continuation and sustainability, especially during these challenging times, further enhancing the ease of doing business in the country.”

The Dubai economy has already shifted its active trade licenses to the blockchain platform. This represents more than 40% of their overall number in the UAE.

Seamless data retrieval

By leveraging on the blockchain platform, participating financial institutions are seamlessly retrieving customer data and getting real-time updates on the same.

The blockchain-based banking solution aim to boost customers’ satisfactory rates by giving them more time to focus on their businesses.

Astyanax Kanakakis, norbloc CEO, asserted, “The commitment of Dubai Economy, leading financial institutions such as Emirates NBD, Dubai Government, and the UAE Government to this initiative demonstrates a proactive and ambitious mindset, and positions the UAE as one of the first countries taking significant measures towards creating a digital low touch economy with simplified processes ensuring that business can continue to thrive in the post-COVID environment.”

This project seeks to place the UAE as one of the first nations to deploy a countrywide blockchain data-sharing ecosystem. Blockchain-based solutions are continually being embraced globally as leading big four firm Deloitte recently partnered with Chronicled to tame counterfeit medication through this cutting-edge technology.

Carrefour Shoppers in the UAE to Get Farm-to-Shelf Information with Blockchain Technology

The shopping experience of Carrefour customers in the United Arab Emirates (UAE) is expected to be boosted as they will be in a position to track the place of origin of the products they intend to buy thanks to blockchain technology.

Blockchain-powered food trust solution

The collaboration between Majid Al Futtaim, the Carrefour franchisee, and IBM, is expected to boost shoppers satisfaction levels because the latter will provide a blockchain-based ‘Food Trust’ solution.

Carrefour shoppers will be able to trace the origin of fresh chicken or vegetables by just a simple scan using their smartphones.

According to the announcement:

“By using their smartphone to scan a QR code on products such as Carrefour’s fresh chicken, customers will be able to get immediate access to actionable food supply chain data, from farm to store shelf.”

Furthermore, the product’s history, such as nutrition and temperature data, halal and hygiene certifications, and production process, will be included in the blockchain-based system.

Conscious consumerism

People are continuously advocating for conscious consumerism because they are attentive to detail on what they eat or drink. For instance, knowing how their food was grown and its origin, and whether it was produced ethically and sustainably.

IBM Food Trust was first launched in August 2017 by10 Foundation members to enhance the realization of this objective by using blockchain to solve challenges in the food supply chain.

Carrefour supermarkets in the UAE join Coop Italia in using IBM’s blockchain technology to boost food traceability because the biggest retail chain in Italy deployed this cutting-edge technology in December 2019 to trace the origin of eggs in its supply chain.

Precisely, by leveraging blockchain technology, Coop Italia wanted to have full visibility and transparency of the different players taking part in the production chain involving nearly 2 million hens producing at least 200 million eggs annually.

Crypto Businesses Given the Green Light to Set Up in Dubai’s Free Zone

Following a memorandum of understanding (MoU) between the Dubai Multi-Commodities Centre (DMCC) Free Zone and the Securities and Commodities Authority (SCA), crypto businesses have been granted the liberty to operate in DMCC once registered licenses are granted.

Fostering crypto and blockchain growth in Dubai

According to the announcement:

“Working closely with DMCC’s onboarding teams, the SCA will issue approvals for crypto-related businesses looking to set up in DMCC. The SCA will subsequently regulate the crypto activities in line with their policies, which were introduced in October 2020 to develop an integrated ecosystem for the crypto and blockchain industries.”

The strategic agreement aims to foster growth and development in this sector by bringing the world’s leading blockchain and cryptographic technologies’ ecosystem to Dubai.

Ahmed bin Sulayem, DMCC’s CEO, noted:

“This agreement also builds the foundation for our future partnerships in the crypto space and is a major step in the launch of the DMCC Crypto Centre, which we will bring to the market in the near future.”

Crypto interest in Asia is brewing, showing long-term optimism in the market.

DMCC: Promoting technology-driven trade

DMCC was established in 2002 as a government entity mandated with enhancing commodity trade flows through Dubai. It comprises more than 18,000 businesses from a wide range of sectors and industries.

The MoU will be instrumental in enabling crypto businesses to set foot in the free zone. DMCC has shown its commitment to support the blockchain and crypto sector.

For instance, in August 2020, it established a blockchain-based agri-commodity trading and sourcing platform dubbed Agriota E-Marketplace to link millions of Indian rural farmers with the UAE food sector.

One of its primary objectives entailed giving the farmers a competitive edge by availing blockchain-powered solutions when eliminating intermediaries and the timely access of the marketplace.

Furthermore, by leveraging blockchain technology, DMCC planned to optimize the UAE’s food supply chain by availing standard products, such as condiments, spices, vegetables, fruits, oilseeds, pulses, and cereals.