The Kingdom of Bahrain considers the possibility of using the blockchain to reduce the cost of storage of registration data of vehicles of the country.
Thursday is the Main traffic Department in Bahrain (GDT) introduced a new plan for the creation of a blockchain system of registration of vehicles and reported that he is looking for a technical partner that would be responsible for designing and implementing the system.
In a message posted on the website of the Ministry of internal Affairs of Bahrain, quoted Director General of the GDT Sheikh Abdulrahman bin Abdulwahab al Khalifa:
“This registry will be an important step towards reducing the overall cost of maintaining critical information on vehicles, improve the efficiency of supply chain management and ensure a high level of transparency for all stakeholders in the ecosystem of registration of vehicles”.
It should be noted that the GDT’s plan was presented during the forum, Gateway Gulf, conducted with the support of the crown Prince of the country, and is part of a global initiative by the government of Bahrain for the introduction of advanced technologies through partnerships with the private sector.
So the country got a big financial institutions that use the potential of blockchain technology. In August 2017, the Arab Banking Corporation based in Bahrain, joined blockchain-R3 consortium to provide its customers with additional services.