Dubai Will Launch a Blockchain-based B2B Marketplace by 2020


city-3161105_960_720On March 3,  the Arabian Business reported that, as part of its Dubai 10x initiative, it will launch a b2b platform using the blockchain technology. The 10x initiative plan is for Dubai “to be 10 years ahead of other world cities”.

In the two years following the launch of the platform, The Dubai Tourism Blockchain Marketplace wants to add an “additional distribution channel for hotels”. To do so, it will connect every tourist group with the blockchain, which will give more transparacy and “real time” pricing and choice in Dubai for tourists.

In a press release, The Dubai Department of Tourism talked about the new upcoming project as,

“going beyond providing broader access to the global consumer, and opening up the domestic travel industry to new participants and innovative startups into the ecosystem  thus delivering value to Dubai in terms of higher and faster visitor conversion, and greater GDP impact.”

According to the Arabian Business report, The Tourism Blockchain Market initiative was created to increase Dubai’s employment and for every tourist organization to have the same equal chance to attract tourists.

The general director of Dubai Tourism, Helal Saeed Almarri, mentioned,

“The Dubai 10x project will usher in a new phase of development for government services by transforming a whole host of innovative ideas into reality.”

The report also mentioned that the Dubai Tourism Blockchain Marketplace will continue to discuss regulations while working on the implementation of the initiative.

Recently, Dubai’s Roads and Transport Authority (RTA) mentioned it will launch a blockchain by 2020 to track the lifetime of a vehicule, which is also part of the Dubai 10x initiative.

By 2020, Dubai seeks to become the first government implementing blockchain with its Dubai 10x project in order to bring transparency and organization to the city.



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