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Author Topic: Bahrain is adopting Blockchain.  (Read 36 times)
cryptotezi
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May 14, 2018, 07:00:24 PM
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Bahrain sets to adopt this technology in a bid to reduce the cost of maintaining the country's vehicle registration data. Last Thursday, the Bahrain's General Directorate of Traffic (GDT) announced a new plan to develop a blockchain-based vehicle registration system in the country and is now looking for a technical partner to focus on the system's design and implementation.

Full article is here https://www.mntrends.com/2018/05/why-bahrain-is-eyeing-adoption-of.html

How do think this for the development of Blockchain? What kind of development might happen with this in Bahrain??
Please share your point in regard.
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Crypdon
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May 14, 2018, 07:05:13 PM
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It is good news for the technology itself, it seems bahrain is so rich they won't even bother to make a token to sell for this project. As bitcoin has been permitted by sharia law then the whole region should see an increase in bitcoin trading

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May 14, 2018, 07:05:56 PM
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Bahrain sets to adopt this technology in a bid to reduce the cost of maintaining the country's vehicle registration data. Last Thursday, the Bahrain's General Directorate of Traffic (GDT) announced a new plan to develop a blockchain-based vehicle registration system in the country and is now looking for a technical partner to focus on the system's design and implementation.

Full article is here https://www.mntrends.com/2018/05/why-bahrain-is-eyeing-adoption-of.html

How do think this for the development of Blockchain? What kind of development might happen with this in Bahrain??
Please share your point in regard.

Well it is good if somebody tempered with vehicle registration data before that.

You can't change data after it is written in blockchain.

It is good news for the technology itself, it seems bahrain is so rich they won't even bother to make a token to sell for this project. As bitcoin has been permitted by sharia law then the whole region should see an increase in bitcoin trading

It is important to know the difference between blockchain and cryptocurrency.

Blockchain is just a database that is cryptographically protected from additional changes of data that was already being written in database.

mahibul49
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May 14, 2018, 07:09:20 PM
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wow!!!this is really great news and i think this will help crypto to go more strong.
every country should use blockchain technology bcz its transparent Smiley

LeGaulois
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May 14, 2018, 07:36:45 PM
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Similar blockchain application(s) already exists from a company owned by Atos (Worldline?) What is surprising me in the country itself. Isn't Bahrain a monarchy with almost no human rights? Do they hope to jump from 1970 to 2018 like 1.2.3?

The money that can be saved is often the first argument used to adopt the blockchain technology, the security comes after

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July 25, 2018, 03:10:34 PM
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Bahrain is beginning to pay attention to the adoption of digital currencies such as Bitcoin in an effort to accelerate the adoption of Blockchain technology.
The Kingdom of Bahrain - a constitutional monarchy of more than 30 islands in the Persian Gulf is beginning to approach Bitcoin in a friendly way to become a FinTech hub in the region.
Khalid Al Rumaihi, General Manager of Economic Development of Bahrain, has unveiled a plan to develop regulations to regulate crypto in the country. The EDB is a government agency responsible for planning and implementing the country's economic development strategy.
In answering a question about cryptocurrencies at the event, Al Rumaihi stated:
We will open for Bitcoins
Notably, Al Rumaihi has pointed out that the Ministry of Finance of Bahrain - the financial regulator and financial supervisor - is also interested in adopting digital currencies such as Bitcoin.
In addition, he said about the extent to which Bahrain could accept and use digital currency when he showed that Bahrain could also issue a digital currency of its own.
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