Dubai has set up the Global Blockchain Council to explore current and future blockchain applications. The council currently consists of 47 members from both the public and private sector and launched seven blockchain proofs-of-concept trails, covering health records, diamond trade, title transfer, business registration, digital wills, tourism engagement and shipping.
IBM has partnered with the Dubai government to trial the use of blockchain for a trade and logistics solution. The solution transmits shipment data, allowing key stakeholders to receive real-time information about the state of goods and the status of the shipment, and replaces paper-base contracts with smart contracts.
The Crown Prince of Dubai has also announced a strategic plan that would see all government documents secured on a blockchain by 2020. The Dubai government estimates that the blockchain strategy has the potential to save 25.1 million hours of economic productivity each year.