Dubai has come a long way from being a small fishing town in the 1950s and 1960s to the booming trading and touristic city it is today.
The capital of the Emirate of Dubai is the largest and most populated city in the United Arab Emirates. And its city officials are doing everything in their power to reach their objective of transforming the government of Dubai into the first blockchain-powered authority in the world by 2020.
As part of this journey, the Dubai International Financial Centre (DFIC) Courts and Smart Dubai have partnered to create the world’s first “Court on Blockchain” to aid verification of court judgements for cross-border enforcement.
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The joint effort is aimed at creating a blockchain-powered judiciary which will streamline the judicial process, remove document duplications and drive improved efficiencies across the legal ecosystem, the Arabian Business website reports.
The DIFC Courts and Smart Dubai have created a task force that will focus on smart contracts that incorporate logic and allow for various forms of exceptions and conditions for seamless and efficient dispute resolution.
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“The task force is in line with our guiding principle to deliver courts as a service, powered by technology and extended through cooperation agreements and alliances,” DIFC Courts CEO and Registrar Amna Al Owais said.
“By harnessing blockchain technology, Dubai will be firmly positioned at the forefront of legal tech and judicial innovation, setting the standards for countries and judiciaries to follow.”
By 2020, Dubai will become the first blockchain-powered government to use the open ledger technology for all its transactions.