DUBAI BECOMES WORLD’S FIRST CITY TO ADOPT BLOCKCHAIN TECHNOLOGY
INDIA MAY FOLLOW WITH ITS OWN CRYPTOCURRENCY
2017-10-12 13:44
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Dubai has scored another world first, by becoming the first city to adopt the blockchain technology that powers the cryptocurrency for some of its official transactions. In a first of its kind global initiative, the Dubai Land Department, the government arm responsible for the registration and regulation of real estate in the emirate, is now processing and implementing all real estate transactions on a blockchain. Ultimately, all Dubai properties will be recorded on a blockchain within two to three years.