Dubai's Digital Dubai Initiative Sets Ambitious Targets

Over the world, blockchain technology has been transforming several industries, and Dubai is no exception. Dubai has been experimenting with and adopting blockchain in several industries, from finance and real estate to transportation and government services, as part of its ambitious goals to develop into a smart city.

In this article, we'll look more closely at the blockchain's potential for Dubai's economy and society, as well as its existing situation.

With the launch of its Blockchain Strategy by the Dubai Future Foundation in 2016, Dubai is at the forefront of blockchain technology. The three major pillars of the plan are global leadership, industry creation, and effective government. By putting this plan into action, Dubai hopes to have the world's first blockchain-powered government by 2025.

According to a recent report by the Web3 platform Crypto Oasis Ecosystem, the UAE has a strong Web3 economy. More than 7,000 people reside in the Web3 ecosystem in the UAE, together with more than 1,500 active organizations. The UAE government is proactively adopting blockchain technology, with more than 460 native businesses registered with the Dubai Multi Commodities Centre. This constitutes over 50% of all native blockchain organizations in Dubai.

By 2030, the Dubai government hopes to rank among the top 10 metaverse economies worldwide. More than 40,000 chances for virtual work are anticipated to result from the project. The UAE Ministry of Economy has also created a headquarters in the metaverse, making it one of the first governments to do so. The UAE has emerged as a hub for some of the biggest cryptocurrency platforms and businesses due to its emphasis on Web3 technology, including Binance, which has licensed operations in Abu Dhabi, Dubai, and other locations. A new real-world metaverse is also being planned in UAE, which will have the flying car to robots. A fully blockchain-based floating island Isla De Crypto is a brand-new real-world metaverse that will provide visitors with a distinctive experience and fill a new niche in the tourism industry.

The goal of the Dubai government's Digital Dubai plan is to transform the city into a technologically and innovatively advanced smart metropolis. To concentrate on information technology, data, digital transformation, and cybersecurity, this strategy brings together four organizations: Dubai Smart Government, Dubai Data Establishment, Dubai Electronic Security Center, and Dubai Government Excellence Program.

Digital Dubai wants to provide an atmosphere that encourages innovation and entrepreneurship in the digital space. By giving citizens access to modern technologies, it aims to raise their quality of life. The Dubai Data Establishment was established in 2016 as a result of the initiative, which intends to create a whole data ecosystem in the city.

Among the many e-services that Digital Dubai offers to businesses and consumers alike are online payment services. The project aims to construct over 300 new digital enterprises in Dubai by the end of 2024, and it aims to create more than 20 unicorns by the end of 2028.

Author Bio

Hammad Khan is the founder of Isla De Crypto, a serial entrepreneur and technology enthusiast with a passion for innovation. With a deep understanding of the tech industry, Hammad has also authored numerous articles on emerging trends and technologies, providing insights and analysis to a wide range of readers. His expertise in entrepreneurship and technology has led him to become a sought-after speaker, mentor, and advisor to startups.