Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum declared that the UAE has chosen to adopt the “Future Industry” policy to become a world leader in adopting technology.

“The adoption of this technology will reflect on the quality of life in the UAE and will enhance happiness levels for citizens. 50 percent of government transactions on the federal level will be conducted using Blockchain technology by 2021… This technology will save time, effort and resources and enable individuals to conduct most of their transactions in a timely manner that suits their lifestyle and work,” he said during the launch of the “UAE Blockchain Strategy 2021”

Following his speech, the adoption of blockchain technology will support future challenges of the government and will save millions. At least $ 3 billion spent annually “on document transactions and documents, 77 million hours of work, reduce government documents by 389 million, and save 1.6 billion kilometers spent driving.”

“This technology will save time, effort and resources and enable individuals to conduct most of their transactions in a timely manner that suits their lifestyle and work,” he said.

The UAE will focus on the future changes “on citizen and resident happiness, government efficiency, advanced legislation, and global entrepreneurship”.