Dubai’s Global Blockchain Council (GBC) is running a airplane pilot projection called Operation Kimberley, which aims to role blockchain applied scientific discipline to digitalize the issuance in addition to transfer of Kimberley Process certificates used inwards the shipment of stone oil diamonds globally. The scheme would let for the collection, transfer in addition to storage of merchandise information in addition to statistics provided past times each fellow member country.The Kimberley Process is a certification scheme established inwards 2003 past times a UN resolution next a serial of reports that get-go exposed the link betwixt the diamond merchandise in addition to the financing of conflicts. Currently, 81 countries are members of the Kimberley Process. These members ensure that to a greater extent than than 99 per centum of diamonds are from conflict-free sources.In 2016, the UAE led the Kimberley Process in addition to nominated Ahmed Bin Sulayem, the executive chairman of the Dubai Multi Commodities Centre (DMCC), to chair the global initiative.According to James Bernard, the manager of trouble organisation evolution for the DMCC, a permissioned blockchain tin both revolutionize diamond trading in addition to critically trim back costs across the trading spectrum. Bernard, who is besides ane of the founding members of the GBC equally good equally the DMCC Blockchain Innovation Group, believes that the applied scientific discipline tin assist combat, if non eradicate, the illicit exercise of using diamonds to finance criminal activities. In a study released inwards March, Bernard explained: “Using blockchain [technology] agency nosotros tin centralize in addition to secure the collection of all data. Today, diamond production in addition to merchandise information is to a greater extent than oftentimes than non manually transferred to a fundamental website. Blockchain applied scientific discipline tin live on used to automate this procedure in addition to to part a ledger across the fellow member network.” The network volition live on someone to the parties concerned in addition to alone authorized parties volition live on allowed to join. It volition live on secured using cryptographic applied scientific discipline to ensure that participants run across alone what they are allowed to see. Diamond information volition live on collected in addition to added past times authorized users in addition to straightaway visible to everyone across the network. “This establishes trust, accountability in addition to transparency spell streamlining the process,” Bernard said. “It has the potential to vastly trim back the toll in addition to complexity of the processes involved.” Numerous regime departments, regulators in addition to corporations inwards Dubai are exploring how blockchain applied scientific discipline tin align amongst in addition to assist to advance the UAE’s ambitious evolution agendas.In March, the Smart Dubai Office, a regime trunk responsible for implementing innovative technologies inwards the UAE, officially launched a citywide implementation of blockchain technology. The bureau selected IBM in addition to blockchain software applied scientific discipline society Consensus Systems (ConsenSys) equally partners inwards the program. The platform, which volition live on developed inwards conjunction amongst the 2 partners, volition underpin Dubai’s Blockchain Strategy, an first announced final twelvemonth that aims to plough Dubai into the “first blockchain-powered regime inwards the globe past times 2020.”“Collaborating amongst IBM in addition to ConsenSys volition assist expedite this process, attaining Smart Dubai’s overall vision of making everyday experiences to a greater extent than safe, seamless, efficient in addition to impactful for all residents in addition to visitors of the city,” said Aisha Bin Bishr, the full general manager of the Smart Dubai Office. As business office of the project, the regime volition stimulate to facial expression at a novel regulatory framework for blockchain technology. “This is business office of our plan. Certainly, our electrical flow regulatory framework does non capture such nascent technologies similar blockchain, then nosotros ask to function out how to either ameliorate existing regulations, or innovate novel ones,” said Bin Bishr. Speaking at the press conference, Wesam Lootah, CEO of the Smart Dubai Government Establishment, stated that the regime was “taking the Pb inwards making Dubai the premiere hub when it comes to blockchain [technology].” Smart Dubai volition organize workshops on the role of blockchain applied scientific discipline amongst government, semi-government in addition to someone organizations inwards Dubai. The bureau expects several airplane pilot projects to live on launched inwards the coming months, starting amongst a projection past times the Dubai Land Department, Dubai Municipality, Dewa in addition to the Department of Naturalisation in addition to Residency Dubai, Bin Bishr told The National.The ship service Dubai’s Global Blockchain Council Combats “Conflict Diamonds” Trading appeared get-go on Bitcoin Magazine.
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