Page 74 - Enhancing innovation and participation in smart sustainable cities

United for Smart Sustainable Cities
Enhancing Innovation and Participation

2 Industry Creation
Figure 15 Dubai blockchain sectors

2 Industry creation

In addition to rolling out blockchain in the Government, Dubai aims to create a blockchain industry where private
companies and start-ups thrive and innovate. To achieve this aim, it has set four key action areas that would support
in creating an enabling ecosystem that would empower businesses as follows (Figure 6):
ƒ Policy development: The policy implications of blockchain implementation will be continuously assessed
and policy will be developed in a number of areas such as security, consumer rights, start-up support and
enablement, and financial technology.
ƒ Blockchain accelerator: A blockchain accelerator will be launched to engage start-ups in exploring
creative opportunities for blockchain implementation. The accelerator is also meant to operate as a
knowledge hub that would raise the awareness and understanding of blockchain technology, its global
adoption and Dubai’s plans for it.
ƒ Global blockchain start-up competitions: Dubai will roll out a number of global competitions in order to
open a channel for start-ups to participate from all over the world in the ideation process for blockchain
implementation across the city.
ƒ Private sector engagement: Dubai has set up the first Global Blockchain Council which is comprised of 46
members from the private sector and aims to enable a thriving blockchain ecosystem. A local private
sector working group will also be set up to engage closely with the Government on enabling the potential
of blockchain locally.

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