Judicial system of Dubai will now get its own blockchain as Dubai International Financial Centre (DIFC) Courts has teamed up with Smart Dubai to develop the system. What is being dubbed as the first ‘Court of the Blockchain’, the platform will be tasked with verifying court judgments for cross border enforcement.
The government-backed project will also look to streamline the administrative processes and help avoid document duplication and allowing for further development of the entire judicial system of the state, according to the official statement. Innovation in the field would also help resolve disputes surrounding private and public blockchains while the regulations will be encoded within a smart contract. Also, the team will look to set up a flexible smart contract that would take note of exceptional circumstances to allow for a more efficient dispute resolution process.
Chief Executive of DIFC Courts, Amna Al Owais said:“This taskforce is in line with our guiding principle to deliver courts as a service, powered by technology and extended through cooperation agreements and alliances.”
WHY IS IT IMPORTANT?
1. Smart Dubai was established by UAE Prime Minister in order to aid Dubai in becoming the first blockchain-based government.
2. In May Department of Economic Development said it will develop a business registry platform based on blockchain technology. Dubai Immigration and Visas Department will also work on blockchain-based passports to streamline ID checking processing.