Dubai is set to host a two-day global blockchain technology summit in May in an event that will explore potential impacts and opportunities for the digital technology.
Blockchain is a digital ledger and its most popular usage is in bitcoin and other cryptocurrencies whose transactions are recorded in a multiplicity of computers globally.
The event dubbed Future Blockchain Summit 2018 is expected to bring together governments, companies and startups around the world to decode the multibillion-dollar opportunities in blockchain technology.
Experts reckon that this digital technology is expected to transform the world and store more than 10 per cent of the global gross domestic product by 2025.
“The summit is the focal point for global dialogue and will act as an experiential showcase of the far-reaching progress, opportunities and impact of blockchain,” said Aisha Bin Bishr, director-general Smart Dubai Office.
Smart Dubai Office, a state entity in the emirate, is conducting government and private organisation workshops to identify services that can be best enhanced by blockchain adoption.