The Department of Finance of Dubai in conjunction with technology company Dubai, Smart Office launched a blockchain payment system.
#SmartDubai continues to grow through the horizon of success as they launch the “Payment Reconciliation and Settlement” System today, developed in collaboration with #the Dubai Department of Finance as a #Blockchain-powered upgrade to its financial system. pic.twitter.com/fESbFBuKpj
— Smart Dubai (@SmartDubai) 23 Sep 2018
A service called “payment reconciliation and payment” will serve the government departments of Dubai, in particular, the police Department, the Department of roads and transport, Department of health and others.
Tasks new blockchain system is to create transparency in the financial Affairs of departments and reduce the time of the transaction.
The first payment service tested the management of power and water resources and the management of knowledge and human development. The total number of test transactions amounted to 5 million
The development of Smart Dubai Office was marked by a high award at the conference of the Smart Cities Expo in Barcelona, whereby the government of the United Arab Emirates has adopted a decision on the start of joint works.
We will remind, last year the Dubai authorities transferred the registration of ownership of the blockchain.