As was reported by UAE’s internet mass media Zawya, the Dubai Department of Finance (DoF) concluded a strategic partnership with the tech company Smart Dubai Office (SDO) to deliver a payment system powered by blockchain. It would enable real-time processing of payments and expedite government transactions.
Payment Reconciliation and Settlement platform was officially released on Sunday and is geared towards government institutions, such as the Dubai Police. Roads and Transport Authority (RTA), Dubai Health Authority (DHA), Dubai Airports, Dubai Customs, Dubai Municipality, and others.
As it was stated in Zawya article, the Dubai Department of Finance and Smart Dubai Office consider that the system will provide more accurate and transparent governance process and enable quick real-time payments within and between government structures.
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