Based in Dubai, an international court that manages civil and commercial disputes in the financial industry is willing to launch a so-called "Court of the Blockchain" to streamline legal deals.
Collaboration with Smart Dubai to Build a Blockchain-Based Platform
The Dubai International Financial Center (DIFC) Courts reported on Monday that it is collaborating with the government-backed Smart Dubai initiative to frame a team that will focus on building up the blockchain-based legitimate platform.
According to the DIFC, the goal is to utilize a system based on blockchain and smart contracts to enable different courts to share data in a decentralized way. With the framework, the firm stated, the need to complete manual assignments like document duplication will be reduced, bringing a bigger effectiveness to the current framework. First of all, the task force will focus on an R&D push to put court judgment information on a blockchain so institutions can confirm and share data in real-time to advance cross-border law enforcement. The push comes as a component of the Dubai's effort to bring smart developments to its administrative operations.
Spreading Blockchain Wonders Within the UAE
Dr. Aisha Bint Butti Bin Bishr, the Smart Dubai Office's director general, clarified in the declaration that Dubai's blockchain methodology "seeks to run 100 percent of applicable government transactions on blockchain by 2020."
As a major aspect of the 2020 task, different government institutions have officially declared individual blockchain initiatives. For example, in May, the Department of Economic Development told about its intention to build up a commercial business registry platform utilizing blockchain. What's more, last year, the Dubai Immigration and Visas Department likewise said it was taking a shot at blockchain-based international IDs that could conceivably get rid of manual checks at the UAE city's international air terminal.