Bitcoin Forum

The Smart Dubai Office, a government-backed initiative has partnered a FinTech specialist firm to implement a citywide payments platform based on blockchain technology. The government initiative has entered a memorandum of understanding with FinTech consulting and development firm Avanza Solutions.

Avanza’s proprietary blockchain ‘Cipher’ is the chosen platform selected by the smart city initiative. Smart Dubai Office plans to roll out Cipher across all its existing 38 partner government entities, partner financial institutions and Departments to set up the first blockchain based building block within its financial plumbing.

Details from Cipher’s webpage reveals the platform’s adaptability to both public and permissioned blockchain networks with the implementation of smart contracts through the open-source HyperLedger & public blockchain Ethereum platforms. IBM’s Bluemix and Microsoft’s Azure BaaS are also listed.

More information below:

https://www.cryptocoinsnews.com/dubai-government-greenlights-citywide-blockchain-payments-system/

How do you think this will impact Blockchain Technology adoption in the middle east?

This is a good news for ETH token. Dubai is very luxury and expensive in the world where many rich people want to come for relax and travel. I think The Dubai goverment has realized the importance of fintech and wants to use this technology .

The Dubai government is the most progressive amongst the Middle East Asian countries. Some of the attention on blockchain may rub off on Bitcoin as well. If rich Emiratis decide to invest in Bitcoin, it could provide a big boost to the price.

Now just wait blockchain fly!!!

Dubai is considered one of the richest and most modern countries in the world by its luxury and luxury. And of course, it has the best modern technology. However, it is normal for the rich to invest in bitcoins. The value of bitcoin will not be affected by that.

Dubai has really seen the potential of blockchain in improving their system and thus they are trying to integrate it to their system. But the sad news is that they dont mention bitcoin on their upgrading but only the technology which is blockchain. I hope after accepting blockchain technology they will also accept bitcoin as form or mode of payment.

Well that may be the first step to see Bitcoin or ethereum in Dubai for sure. We may soon see tourists and local population using crypto currencies. There is no doubt that Dubai government and people are one of the richest in whole while world and something like this is really commendable from them.

Another adoption for bitcoin huh? Seems like bitcoin is going to the mainstream market and people are starting to notice bitcoin now and it will make a big change for bitcoin and soon other countries will follow this kind of adoption, Japan, Dubai. What is next now? Big countries are starting to love bitcoin ;D.

Yes, this will surely bring bitcoin into limelight. This will ultimately increase the demand and thus a boost in bitcoin price. Dubai is a city of rich people. Through this bitcoin will get their attention which can leads to more investment in bitcoin.

Why did not go to dubai in dubai Blockchain what is less demand?

Friends of us just returned from Dubai and they said it was VERY expensive. The Oil rich countries have much to offer, but they do not need

Bitcoin to succeed or to prosper. The 3rd world countries needs it more. If someone could find a way for Bitcoin to be accepted there, you might

see some Bitcoin tourist going there in the future for a luxury holiday destination.  ::)

Dubai has been interested in bitcoin two or three years ago , but they are interested in the "technology" not bitcoin on itself
so I don't think that this may help bitcoin but it's good move anyway
not sure if the residents of Dubai need the blockchain , they are paying too much money anyways  :)

"Cipher". I see we're starting to turn Metal Gear into real life.

As for how it is actually going to impact the prevalence of the blockchain in the middle east, it might do some for the fintech industry but I don't know if it is going to ever really spread in the way that a lot of us would like to picture. Dubai is probably one of the better places to get the entire system started, but again, I don't know how much of a use they're going to have for it.

Why bitcoin does not go to dubai whether da something that has not been prepared.

Dubai is progressive in comparison with some of the oppressive regimes around that area, but it's more of a safe haven than a progressive country.  I don't think many of the rich people around there are going to invest in Bitcoin, especially since they're talking about "blockchain technology" rather than Bitcoin specifically.

Vitalik Buterin is going to be so fucking rich. I remember him talking, on this forum, about making a Proof Of Stake system that had a better scripting language than Bitcoin. As I remember it, he was arguing with a couple of devs over bitcoins weak scripting so he was going to make his own. Maybe it was The Bitcoin Foundation forums where I read that thread? A friend with a membership to TBF used to let me cruse the forum over there if I agreed to not post. That's probably where I saw it. Anyway, Ethereum is going to make him richer than anyone involved in Bitcoin. Good for him, it couldn't happen to a nicer guy. Bitcoin won't benefit from this at all though.

lol, as if he isn't rich enough already. he made a code, then got free coins, millions of it. then in during the first pump to $14 he dumped about a couple of million dollars worth of this coin which he got for creating a very buggy platform and a poorly designed wallet.

Agree. Dubai is a playground for the rich, if places like Dubai jump on board & begin to implement blockchain tech into every day life then it could give bitcoin a shot in the arm (hopefully).