ECONOMY

Dubai integrates blockchain technology into online payment

Blockchain allows people or systems to share data in a tamper-proof way. (Shutterstock)

Dubai has integrated blockchain technology into its online payment portal named DubaiPay, local media reported on Sunday.

Blockchain allows people or systems to share data in a tamper-proof way.

The Smart Dubai Government made the announcement, saying the move was to increase government efficiency by transferring all transactions to the blockchain network, according to the Dubai-based Gulf News.

“Dubai aims to become the world’s first blockchain-powered government by 2020,” the report added.
 

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Last Update: Monday, 24 September 2018 KSA 13:53 - GMT 10:53
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