Monday, October 23, 2017 2:53 AM

Home / Dubai Land Department becomes world’s first government entity to conduct all transactions through Blockchain network

Dubai Land Department becomes world’s first government entity to conduct all transactions through Blockchain network


Dubai Land Department (DLD) said, it has become the world’s first government entity to adopt Blockchain technology, reflecting the ‘Dubai Blockchain Strategy’ launched by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Board of Trustees of Dubai Foundation for the Future. The initiative has been developed in cooperation with Smart Dubai and other partners. 

DLD has created the Blockchain system using a smart and secure database that records all real estate contracts, including lease registrations, and links them with the Dubai Electricity & Water Authority (DEWA), the telecommunications system, and various property related bills. Blockchain's secure, electronic real estate platform incorporates personal tenant databases, including Emirates Identity Cards and the validity of residency visas, and allows tenants to make payments electronically without the need to write cheques or print any papers. The entire process can be completed electronically within a few minutes at any time and from anywhere in the world, removing the need to visit any government entity.

Sultan Butti bin Mejren, Director General of DLD, commented: "Our adoption of this system is aligned with our commitment to responding to the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to make Dubai the smartest city in the world.”

“Following the launch of the Dubai Blockchain Strategy by HH Sheikh Hamdan bin Mohammed in October 2016, which aims to make Dubai the first government in the world to apply all transactions through this network by 2020, DLD created a smart and secure database that records all real estate contracts. This makes DLD the first government entity in the world to implement all of its transactions through the Blockchain network. As the system simplifies people's lives by using an integrated system, we are working directly with Smart Dubai to provide our customers with utmost satisfaction and avoid wasting their valuable time. This is a major step toward cementing Dubai's position as the world's smartest city, expanding our online partnerships with all government entities and real estate parties that our customers need to complete their transactions.”

In order to promote public-private partnerships, DLD has collaborated with a number of key partners in this initiative, including DEWA; wasl Asset Management Group, one of the largest real estate developers in Dubai; Emirates NBD, the banking partner for the initiative; and IKEA. All existing and future partners will be included in the system’s database to provide access to detailed information and ensure customer convenience.

 

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