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Dubai / WAM
The Dubai Land Department (DLD), reached another technical milestone by becoming the world’s first government entity to adopt blockchain technology, reflecting the ‘Dubai Blockchain Strategy’ launched by HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Board of Trustees of Dubai Foundation for the Future.
The initiative has been developed in cooperation with Smart Dubai and other partners. At GITEX Technology Week 2017, DLD will launch the first-of-its-kind initiative in the global real estate sector, under the slogan ‘Simple, Secure, Fast.’
DLD has created the blockchain system using a smart and secure database that records all real estate contracts, including lease registrations, and links them with the Dubai Electricity and Water Authority, DEWA, the telecommunications system, and various property-related bills. Blockchain’s secure
electronic real-estate platform incorporates personal tenant database, including Emirates Identity Cards and the validity of residency visas. This allows tenants to make payments electronically without the need to write cheques or print any papers. The entire process can be completed within a few minutes at any time and from anywhere in the world, eliminating the need to visit any government entity.
Sultan Butti bin Mejren, Director-General of DLD, said, “As the system simplifies people’s lives by using an integrated system, we are working directly with Smart Dubai to provide our customers with utmost satisfaction and avoid wasting their valuable time. This is a major step toward cementing Dubai’s position as the world’s smartest city, expanding our online partnerships with all government entities and real estate parties that our customers need to complete their transactions.”