Dubai, 7 October 2019: Dubai Economy has announced its move to a Unified Business Registry Platform (UBRP) hosted on the innovative Blockchain Platform as a Service (BPaaS) of Dubai Pulse, a joint initiative of Smart Dubai and du. The UBRP will enable local and federal entities to provide a unified and transparent outlook of business in Dubai and establish a better regulation model.
Announced during GITEX Technology Week 2019, the BPaaS network is a blockchain solution that enables license issuers to manage their trade licenses and corporate registries. The solution has three entities - Dubai Silicon Oasis Authority, Dubai Electricity and Water authority (DEWA) and Dubai Multi Commodities Centre (DMCC) – already on board the UBRP and BPaaS aims to host 40 government entities on the platform.
Abdullah Hassan, CEO of the Corporate Support Services sector in Dubai Economy, said: “Dubai Economy is moving to the next level of its digital transformation with the Unified Business Registry Platform and we are proud to be in the forefront of Dubai’s march to being the world’s first blockchain powered government. At Dubai Economy, we are always looking to our partners for smart solutions that will simplify, secure, and streamline the future government leading up to the UAE Vision 2021”
Hassan added that the exceptional BPaaS product from Dubai Pulse will elevate the business outlook for Dubai by enabling a better regulation model via a unified and transparent business registry. “We are thrilled to have Dubai Pulse supporting us in achieving this objective and believe it will greatly reinforce Dubai as the preferred place to live and do business in the UAE.”
Wesam Lootah, CEO of Smart Dubai Government Establishment, said: “The success of the flagship Dubai Pulse platform means it is now a mainstay for all government entities and enterprises looking to utilise its transformative capabilities. Many government entities are enjoying the innovative value of the platform and, with the Unified Business Registry Platform, we are another step closer to realising the vision for a happier, smarter, and more digitally-enabled Dubai.”
Badr Buhannad, Executive Vice President Strategy, Business Services & RM at DSOA, commented: “DSOA is highly regarded for its pioneering role as a test bed for disruptive technologies, especially in the fields of AI, blockchain and smart cities. In 2018, it was the first free zone to implement UBRP in collaboration with Dubai Economy. Today, we are pleased to see this project elevated to the next level through its integration with Dubai Pulse.”
He added: “DSOA is proud to be among the first entities to join the BPaaS network that supports the Dubai Paperless Strategy, announced by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, to build a seamlessly integrated paperless government framework. We are confident that this project will consolidate Dubai’s reputation as a global smart economy leader in line with our leadership's vision for a smart government that adopts advanced technologies to enhance efficiencies.”
The solution, built on Dubai Pulse’s BPaaS, is the first locally-hosted BPaaS in the UAE which serves two different protocols: Hyperledger fabric and enterprise client of Ethereum. With a wide range of features, the platform will facilitate scalability and onboarding of new entities, with capabilities for entity nodes to be hosted on Dubai Pulse or on external infrastructure.
Farid Faraidooni, Deputy CEO -EITC, du, said: “At du, we are heavily immersed in unlocking the benefits of blockchain to empower government entities and enterprises in the UAE. With the launch of our BPaaS in 2018, we have continued to illustrate proof points and use cases for how this formative technology can produce real world solutions to real world challenges. We are proud to be connecting the UAE’s sectors to the future of technology and we look forward to facilitating the UCR journey for dozens more government entities.”
The innovative platform’s extra features include compatibility and inter-operability across blockchain protocols, enterprise security and privacy, Smart Contract repositories and Smart Contract as a service on demand. It will also help accelerate the adoption of blockchain technology and maximise flexibility through hybrid architecture, all at a reduced total cost of ownership.
The solution also aims to improve the overall business ecosystem by having NOC authorities and other service providers on board to validate trade licenses and business transactions.