The Dubai Global Blockchain Council (GBC) is an initiative of public and private companies, government agencies and start-ups. Today they presented seven new proof-of-concepts at the industry conference Keynote 2016.
The GBC was launched in spring 2016 and has more than 30 members. The meeting enjoyed new projects from IT giant IBM, telecommunications operator “du” and the Dubai Multi Commodities Centre (DMCC). The projects ranged from initiatives to improve the exchange of information among loyalty programmes (such as in a department store, editor’s note) to reducing the shady diamond trade.
In the first speech of the morning at Burj Al Arab in Dubai, Saif Al Aleel, CEO of Dubai Future Foundation, spoke of his idea of how to bring together inventors and big players in the local market.
Al Aleel explained the Bitcoin formula to the audience:
“We believe that the best way to prepare for the future is to create the future itself, and the best way to create a future is to work with everyone. We believe that Bitcoin formula technologies can improve parts of our lives and our business world … (everything) through faster transactions and offering faster and more efficient services.” More about it on onlinebetrug.
Noah Radford, Chief Operating Officer of the Future Foundation Museum, described the pilot projects as a foretaste of the organization’s progress.
“These are seven of the Council’s exciting pilot projects. At least as many are currently under development, they are not yet reportable,” he said.
Raford said all these projects are planned to be completed within the next three to six months. The goal is to evaluate these pilot projects at a later stage and thus advance the Group’s performance by discovering new and better applications.
Below we present the presented projects:
1. health data
“How many times have you gone to the doctor and explained your symptoms just to find that you forgot your x-rays?”
Jose Valles is vice president of development for “du”. He started his speech today with this sentence and unveiled a project by the telecom giant to digitize health data using the blockchain.
The concept, along with similar announcements from Philips and IBM, is the latest innovation in this area to address existing health challenges.
In collaboration with the Estonian software company Guardtime, the Dubai project wants to be at the forefront. According to Valles, the blockchain will increase the security of health data.
“We bring the blockchain technology here to safely open data,” Valles said.
“We believe this will catapult the acceptance of the technology forward.”
As one of the largest telecom providers, “du” has supplied 47% of all mobile phones in the United Arab Emirates and made 30% of the sector’s profits in 2014.
2. secure diamond trade
Probably the most important presentation of today was given by James Bernard, Director of Business Development at DMCC. DMCC is one of the largest suppliers of commodity trading in the region.
In the presentation, Bernard explained how his organization, in collaboration with other GBC members, is working on a pilot project using blockchain technology to authenticate and transfer Kimberly certificates. Kimberly Certificates are physical documents and part of the Kimberly Process introduced by the UN in 2003 to prevent the spread of blood diamonds.
“Our goal for the pilot project is to digitize and transfer Kimberly certificates – and simplify the collection, dispatch and storage of statistics from every member country in the world,” he said.
Bernard pointed out that he not only believes that the blockchain is a key role in the digitization of the paper process, but that it gives member states the opportunity to share this data with each other. This would reduce duplicate documents and other manual errors.
Bernard’s presentation is something extraordinary, given the numbers of the organization. It traded more than $35 billion in cut and raw diamonds in 2010.
As the DMCC is currently chairing the Kimberly Process and coordinating among the 81 member states, Bertrand explains that his organization has all the necessary members for the pilot project to guarantee success in the market.