Bitcoin Forum

IBM is collaborating with Dubai Customs, Dubai Trade and its IT provider Dutech, to explore the use of blockchain technology for the import and re-export process of goods in and out of Dubai.


http://gulfnews.com/business/sectors/technology/ibm-to-collaborate-with-dubai-government-for-blockchain-tech-1.1974813 (http://gulfnews.com/business/sectors/technology/ibm-to-collaborate-with-dubai-government-for-blockchain-tech-1.1974813)

Global organizations and governments now have all identified blockchain
as a revolutionary technology.

What do you think is the advantage of using blockchain in other industries?
or roadblocks that one can face implementing such kind of techonology?

The use of blockchain technology in commerce and trade is a very good idea. Aside from its easy to record transaction it is also much easy to monitor and check how the delivery is being made. Monitoring will be much easier in this kind of industry using blockchain technology but I am curious as to what kind of design they will use to make this program running.

The blockchain pumpers are at it again. The people behind it keep using the blockchain buzzword to scam the Dubai government for money and to use their "blockchain" for whatever purpose they can think of. All they need is a database. There is no need to use a "blockchain" whatever that means to them. In their "blockchain" they have taken out the most exciting parts from Bitcoin and have created SQL. Nice.

This is something that has really been grinding my gears, I do not understand why or how people think that the blockchain is something more than a glorified database that is supposed to magically revolutionize fintech and change it as we know. It is essentially just one large database that uses a lot of electricity.

It has some uses, like stock market stuff, but beyond that it doesn;t really offer benefits.

i believe when they say blockchain technology they mean the cryptocurrency technology, it is not just the database, it is how you use that database with the cryptography on top of it. just like bitcoin and altcoins are doing.

That's a good initiation to use Blockchain in the logistics industry. Dubai is a Country, where the duty free system avails more export to African countries and importing from Asian countries. This makes the system work perfectly without any difficulty happening in the database management.

For one thing, once the information is entered and submitted to the Blockchain, it cannot be tampered with, and we know how records are being tampered with in all industries. The Blockchain should also be used to record and track warrants and evidence in law enforcement agencies. < A private Blockchain > because many cases are thrown out of courts, because warrants and evidence are lost. < You can also keep track of who handled these documents >

This initiative would most probably be a private Blockchain. ^hmmmmmm^

 

I read this same news yesterday in coindesk site and it glad my heart. This a very good news for cryptocurrencies generally as this will boost blockchain technologies all over the world. I am glad because at last blockchain has become a force to record with. I will advice my fellow bitcoinist to keep on buying and hold as the current bitcoin price is at $1066.

This has made my day, I'm currently in the UAE and will be here for sometime and this news about the blockchain here is going to make our businesses grow and be enhanced across payment platforms that hitherto was not possible.

yet another hyperledger advertisement.

im starting to think we should create a whole new subcategory in the altcoin section for the bankers to talk about their hyperledger plans.

Advantage of blockchain technology lies behind distributed ledger technology which can provide high security and 24x7 access to data storage.

Roadblocks - it will be centralized i.e. all those servers where ledger were distributed will be under control of central authority so it can be tampered or vulnerable to data manipulation.

They (Dubai) did commit to recognizing it as a known currency to their financial system just last week.
So they are moving very quickly on their initiative to make it more accepted and a reality in using it to their very own citizens.
This should be followed by many other developed nations such as they have shown the world in the acceptance of this once obscured form of cryptocurrency to them not too long ago.

Hey this seems to great news from the tax free country. I am holding the account with Emirated NBD and ADCB. I have learned about bitcoin in UAE only from my colleague.   I think Higness, Sheik, Rashid take big and best platform to his country. I am being worked here. I hope these kind in implementation will pass in my country as well.

of course will be somehow more secure than what we have today, because the ledger will be distributed among several nodes, and all of them would have to agree to a change for the data to be tampered without leading to discrepancies

Bitcoin's blockchain is a chain of blocks.
Government blockchains are chains that they can block.

:)

Remember this is not the Bitcoin Blockchain they are talking about, if you guys were thinking of expanding with Bitcoin. They will not use a

public Blockchain, but rather something developed in-house. Access will be restricted for their use only and nobody on the Bitcoin Blockchain will

be able to access it. The positive thing you might get out of this, is that they are open to "Blockchain" based technologies.  ;)

Good news for Bitcoin. People may have information about bitcoin thanks to blockchain technology.
I would like to see these kind of initiatives in other technology companies.

It's nice to see that the world adopts more and more blockchain technology.
Although news like this do not involve bitcoin directly, I think that bitcoin can still profit from them.
Bitcoin is based on blockchain technology as well, so every positive news about it may help to improve the reputation of bitcoin in the public opinion.

Yes, its nice to hear a lot of industries are now integrating blockchain technology. This is a win-win situation for our community. I hope a lot of countries will follow suit as well.

Why do you think it's a good news for bitcoin because the word blockchain was mentioned? Satoshi somehow invented a digital road and wheel.
Now if people try to build a road and run wheels and where that road leads is entirely separate from bitcoin.

"That uses a lot of electricity"? They took that part out and that is what I was talking about when I said they are taking the most exciting part about it. Proof of work is a revolutionary concept. How can you take that out in a "blockchain". It is how we all agree and how get to a consensus.


They can call it the "Blockchain Pumps".

i guess thats the main idea, not just as db, is the security that brings cryptography, and descentralization, with no centralized power controlling what happens or not

awesome I feel superb when I hear news about bitcoin and its dvelopement. it the government of backward county that tries to ban bitcoin alwys sees bitcoin as negative economy to his country but actualy bitcoin should be welcomed instead of banning it. its a new technology we should learn something and try to implement those technology in our live and that what is dumbai and IBM, love them. for their initiative

Bitcoin is using blockchain technology as infrastructure. It is important news that a large company like IBM is investigating blockchain technology.
People will hear the word blockchain through IBM. At the same time they will have information about bitcoin.

So bitcoin is an important development in terms of advertising.

Advantage I can think of implementing blockchain is security. Blockchain has the ability to make data exchange simplier but at the same time increasing the security of data transfer between Dubai Customs and Dubai Trade or any other sector within Dubai that needs the information right away.