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Smart Dubai announces third round of Global Blockchain Challenge | United Arab Emirates | Technology

Smart Dubai has announced the launch
of the third round of the Global Blockchain Challenge.

The challenge, which is held in partnership with Dubai
Future Accelerators, aims to find startups with new ideas to help Dubai become a
fully ‘blockchain-powered’ city by 2020.

The contest brings startup finalists to Dubai, to participate
in a five-day program in April. Teams will take part in a pitch competition held
as part of the Future Blockchain Summit, with the goal of finding solutions to contribute
to the implementation of the Dubai Blockchain Strategy 2020.

The winning team will receive a prize of $20,000, with
$15,000 for second place and $10,000 for third.

The competition will be held at the Future Blockchain
Summit, taking place on April 2-3, 2019, at the Dubai World Trade Centre, where
teams shortlisted in the preliminary stages will be invited to come to Dubai
and begin training with DFA ahead of the final Blockchain Challenge
Presentation and Awarding Ceremony. Earlier in May 2018, the Future Blockchain
Summit attracted 8,143 attendees, 140+ speakers, and more than 130 start-ups
and entrepreneurs from 130 countries.

Her Excellency Dr Aisha Bint Butti Bin Bishr, Director
General of Smart Dubai, said: “Dubai has established itself, and in record
time, as a global destination for innovators and entrepreneurs in the
Blockchain industry. Guided by the vision of our leadership, the emirate has
become synonymous with bravely embracing avant-garde technologies and utilising
them to create an advanced, connected and seamless urban experience for its
residents and visitors.”

“To build a truly smart city,” she continued, “we must
establish and empower a holistic Blockchain ecosystem. This includes building
the advanced infrastructure for the technology to thrive, but also, and perhaps
more importantly, to attract talented and ambitious individuals and start-ups
and empower them to implement their innovations – and that is the essence of
the Blockchain Challenge, which now holds its third instalment.”

Dr Aisha added: “The competition allows us to source highly
skilled individuals with innovative and ambitious ideas, and bring them to
Dubai where they can pilot their projects to channel Blockchain technology
towards addressing people’s needs and improving their lives. Building this
ecosystem is a catalyst for the Dubai Paperless Strategy and the transition to
a paperless government by the year 2021, as well as a key requirement for
successfully implementing the Dubai Blockchain Strategy, launched by His
Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of
Dubai and Chairman of the Dubai Executive Council, in October 2016.”

The Dubai Blockchain Strategy revolves around three main
pillars: First, increasing government efficiency by transferring all applicable
government transactions to the Blockchain network; second, creating a
blockchain industry and ecosystem; and finally, leading the thinking and
advancement of Blockchain technology around the world. The Blockchain Challenge
will contribute to the Strategy’s industry creation pillar by identifying the
most innovative Blockchain ideas from start-ups around the world and bringing
them to Dubai.

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