In the Kingdom of Bahrain is considering the transfer on the blockchain of a system of registration of road transport in the country.
The General motion control of Bahrain (GDT) has announced the search for a technical partner for the development and implementation of appropriate blockchain.
“Such registration will be a vital achievement in reducing the General cost of storing important information about vehicles. It will enhance the effectiveness from the point of view of supply chain management and ensure a high level of transparency for all stakeholders in the ecosystem of registration of vehicles”, — said the head of the GDT Sheikh Abdulrahman bin Abdulwahid El Khalifa (Abdulrahman bin Abdulwahab Al Khalifa).
Declared Agency the project will be part of a wider initiative by the government of Bahrain for the introduction of advanced technology through cooperation with the private sector.
In Bahrain increasingly focused on the development of blockchain technology. Last year, one of the largest financial institutions of the Kingdom — Bank ABC — joined blockchain consortium, R3, and the government began a dialogue with the Monetary authority of Singapore (MAS) for the purpose of receiving recommendations on the deployment of the national DLT pilot project, reported local media.
Recall that in September the Central Bank of Bahrain, said the possibility of the experiment with a wider introduction of cryptocurrencies and the launch of the “regulatory sandboxing”.