By 2020, Dubai Will Become a Blockchain Capital

Dr Aisha: Blockchain is the Foundation of the UAE’s Digital Infrastructure

Everipedia: More Modern Wikipedia With Its Own Token

Dubai Government wants to, by the 2020, become a blockchain capital” was the sentence that almost every speaker on the Dubai Future Blockchain Summit, has spoken. The director general of Smart Dubai Dr Aisha bin Bishr opened the inaugural Summit at Dubai World Trade Centre by underlining the technology’s importance in delivering transparency and innovation to the emirate.

She also emphasized a fact that the government agency prioritised Blockchain as the foundation of the emirate’s digital infrastructure. By 2020, Dubai Will Become a Blockchain Capital

Having 100 per cent of all applicable Dubai government transactions run on Blockchain is the first pillar of the Dubai Blockchain Strategy, and ongoing collaboration with government and private sector entities is crucial to our success. The launch of the Commercial Registry Project is testament to our drive towards making Dubai run on Blockchain by 2020. We are working on over 20 more use cases with several entities across the city, and hope to launch these later this year,” said dr Aisha.

One of the panelists and speakers was Dr Larry Sanger, co-founder of Wikipedia and CEO of Everipedia, a Wikipedia 2.0 built on the blockchain. He said that the blockchain has immense untapped potential. “Through Everipedia, we offer the world’s largest English encyclopaedia by content and we’re excited to showcase how we’re leveraging blockchain to offer the next-generation of Wikipedia. UAE is a global first-mover in embracing this transformation technology, while empowering innovators and visionaries to jointly influence and shape the future of the blockchain industry. At the Future Blockchain Summit, I look forward to connecting with like-minded technologists and fellow blockchain influencers.

Article Editors Could Mine IQ Tokens For Themselves

Everipedia will, says Sanger, have more articles about more specialized things. “We could rate articles and even have multiple competing articles. It all started 2015 at UCLA with the idea of making more modern version of Wikipedia. If I made, and I did, an article about my left thumb, that means each and every one of you can make articles about themselves. Phase one will start in June this year and we will be issuing IQ Tokens. That means that, when you will be editing articles, you will also be mining tokens for yourself.

IQ tokens will represent votes that allows editors to govern the network. More tokens or votes means a higher incentive to keep content quality high.
Phase two should start next year and it includes growing of the network because participants will be coming from different sources. “ These articles should be better because a competitive network will make the best statements of human knowledge easily findable” said Sanger.

He then added: “Knowledge is harder than people seem to think it is. There are lots of opinions that we dignify as knowledge, but really aren’t. With the internet, we need to fix that quality problem. People are surprised when I say negative things about Wikipedia. I believe Wikipedia is a missed opportunity. We can do better. I think we could have more articles about specialised things. We could rate articles so people know if they’re any good. People aren’t motivated with Wikipedia, because it’s difficult to participate. What if you could collect all encyclopaedia articles in the world and aggregate them, then rate them?By 2020, Dubai Will Become a Blockchain Capital

The event attracts more than 100 exhibitors, 1,500 attendees and 9,000 visitors, who will be privy to the inroads this technology has made in varying sectors, including Healthcare, Urban planning and Real Estate, Retail and Digital Commerce, Fintech and Banking as well as Tourism and Transport Energy.

Mohamed Alqaizi, IT Director in DED, said: “The Blockchain initiative is a result of intensive research conducted by our IT team in collaboration with DSOA, IBM and the Smart Dubai office. We studied multiple options, case studies and researches aiming to achieve the best results in facilitating business registration in Dubai. The results are promising – we built the foundation for a first of a kind unified business ledger where any entity locally and globally can join, and be part of Dubai’s vision to be the Blockchain capital of the world as part of the Dubai Blockchain strategy 2016.

Dubai is a global hub for cutting-edge technology, and its blockchain-powered initiatives have made the international technology community take note. According to IDC, spending on Blockchain in the Middle East and Africa will double this year to USD 80.8 million, up from USD 38.9 million spent in 2017. By 2020, the global market for digital transactions will amount to USD 9.5 billion, and the global investment in blockchain technology is poised to reach the USD 300 billion.

Teuta Franjkovic

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