A Dubai-based international court dealing with civil and commercial disputes in the financial industry is planning to launch what it calls a "Court of the Blockchain" to streamline legal operations.
The Dubai International Financial Center Courts announced on Monday that it is teaming up with the government-backed Smart Dubai initiative to form a task force that will focus on developing the blockchain-based legal platform.
The DIFC said the goal is to employ a network based on blockchain and smart contracts to allow different courts to share information in a decentralized manner.
As an initial step, the two partners said the task force will focus on an R&D effort to put court judgement data on a blockchain so institutions can verify and share information in real-time for better cross-border law enforcement.
The Smart Dubai Office's director general, Dr Aisha Bint Butti Bin Bishr, explained in today's announcement that Dubai's blockchain strategy "Seeks to run 100 percent of applicable government transactions on blockchain by 2020.".
"An invention of this calibre and potential requires an equally disruptive set of rules and an empowered institution to uphold them. This is where our partnership with DIFC Courts comes in, allowing us to work together and create the world's first disruptive court, helping to truly unlock the power of blockchain technology."
As part of the 2020 project, various government bodies have already announced individual blockchain initiatives.
In May, the Department of Economic Development announced its plan to develop a commercial business registry platform using blockchain tech.
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Dubai Plans to 'Disrupt' Its Own Legal System with Blockchain
pubblicato su Jul 30, 2018
by Coindesk | pubblicato su Coinage
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