The Minister of electricity and water of Bahrain, Dr. Mirza Abdulhussain called blockchain technology “the true sign of progress” and urged the company to take full advantage of its benefits.

Speaking at the conference “SmartSec Cyber Security and Blockchain 2018”, Mirza said that the blockchain technology is “an important achievement that helps us to find a safe way to reduce the cost of the transaction.”

“Technologies such as the blockchain, make a huge step forward in finding a safe way to facilitate transactions. The ability of the blockchain to protect your information is a true sign of progress, because it can be applied in different companies from different industries, including cybersecurity.”

The Minister also urged Bahraini companies to support this initiative because it is able to promote “innovation” among the “great minds of the community.”

“He also spoke about cybersecurity and the threat to the world community. According to Mirza, “cybersecurity is an integral part of our lives,” and to the threat of cyber attacks should not be taken lightly.

“Last year, global cyber attacks has affected more than 60 countries, including Bahrain. The Central Bank of Bahrain recently issued a warning to banks and financial institutions about the planned attacks on ATMs around the world,”he added.

Bahrain is in no hurry to use blockchain technology and cryptocurrency, while, for example, Dubai is a regional leader in the use of the blockchain, the Internet of things and artificial intelligence.

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