<p>Dubai Blockchain will operate in the IBM cloud environment hosted in the UAE, will be used for government blockchain projects and will be offered to the private sector.</p><p>The platform is designed to allow organizations to access blockchain technologies that can scale from testing and development to full production, while ensuring that the data is in the UAE, complying with the rules of information security of the Government of Dubai (ISR).</p><p>IBM said it will build an IBM Cloud environment in the UAE to provide a blockchain service. The platform will run on IBM mainframe technology, LinuxONE, which is capable of conducting more than 6.2 billion Internet transactions per day.</p><p>Aisha Bint Butti Bin Bishr, CEO of Smart Dubai, said: “The Dubai Blockchain platform, which we are launching today with IBM, brings a wealth of experience and knowledge in advanced technology industries, promoting our mission, and allows us to use all the blockchain applications in the city with one single portal.</p><p>The Dubai Paychain system, officially launched on September 23, will be one of the first projects to switch to the Dubai Blockchain platform. Thanks to this service, the process of coordination and payment with various government organizations, banks, and financial institutions, which previously took about 45 days, is now reduced to real time.</p><p>Vemas Lotokh, CEO of Smart Dubai, said: “As Dubai persists in becoming a world leader in the future of the industry, the blockchain technology will become increasingly important in governments and organizations, everyday endeavors, as well as in people's daily lives”.</p><p>“Blockchain is steadily moving towards becoming a multi-billion dollar market by 2019, and we, in Smart Dubai, have successfully implemented technology into numerous services, the latest of which was Dubai Paychain, an advanced settlement, and reconciliation system that eliminates friction from financial processes between government structures through automation and minimal human intervention. And today, with today's Dubai Blockchain platform, we will be one step closer to integrating the services and experience associated with the blockchain into the daily lives of citizens, ”added Lotokh.</p><p>IBM is the official strategic partner of the blockchain for the government of Dubai. Smart Dubai aims to launch all existing government transactions on the blockchain and make Dubai a global benchmark for blockchain implementation.</p><p>Amr Refaat, general manager of IBM in the Middle East and Pakistan, believes that the new service will help meet the growing demand for a simple and cheaper way for organizations to implement blockchain technology.</p><p></p><p></p><p><a href="http://ftimes.ru">Source</a></p>