The Department of Finance of the Government of Dubai (DoF) in Association with the state Smart Dubai initiative Office (SDO) has launched a payment system based on the blockchain. This was reported by the local edition of Zawya on Sunday.

The new platform, called Payment Reconciliation and Settlement, created especially for public institutions, in particular, to Dubai police, Road transport Department and health Department. The system will allow you to make payments between different authorities in real time, which will make management processes more accurate and transparent and will eliminate the main drawback of the old payment system of the government of Dubai with a low-speed transaction processing. As reported by Zawya, before the completion of the transactions had to wait for 45 days.

Be the first to use the platform began the Management of electricity and water of Dubai and the Management of knowledge and human development: the organization conducted more than five million transactions in test mode.

Commenting on the event, Director General of SDO Dr. Aisha Bin Bishr (Dr Aisha Bin Bishr), said that the blockchain is one of the most promising technologies.

In the past year SDO received the highest award in the forum Smart Cities Expo and World Congress in Barcelona for its development strategy of the blockchain in Dubai. The strategy, called Smart City project was presented by Vice President and Prime Minister of the United Arab Emirates and Emir of Dubai Mohammed Ibn Rashid al Maktoum in 2013.

The goal of SDO is to create and support “smart” ecosystem for interactions of public institutions and residents. It is worth noting that the Smart Dubai is not the only project in the country, which has set itself the task of promoting new technologies including the blockchain, and thus actively supported by the government. So in April, the Emir launched the project Blockchain UAE Strategy 2021, in which the UAE plans to achieve leadership position in the application of blockchain technology on a global level.

In July, the International Courts of the Dubai financial centre (DIFC) announced the establishment of the world’s first blockchain-the court in cooperation with developers of Smart Dubai. The essence of the project is to create a decentralized system for sharing information between courts.