UAE Blockchain Event Features Possible Areas of Blockchain Growth
Blockchain technology is disruptive, game-changing, and serves the public with its abilities. This tech is the answer for companies that face issues with security, logistics, operations, and many other real-life problems. Blockchain growth expands the possibilities beyond what people could even imagine, especially when today’s problems evolve exponentially.
The United Arab Emirates (UAE) VIP Reception, hosted by the BSV Blockchain Association, placed blockchain’s growth for different enterprises as a highlight. Esteemed Bitcoin thought leaders took the stage to discuss how blockchain can have diverse applications in both the public and private sector. This event was held at the InterContinental Ras Al Khaimah Resort and Spa, last October 8, 2022.
The reception sported an exclusive invite-only guest list built on Royal family members, C-level executives, the country’s national officers, and journalists. The exclusiveness is for developing a training program—a national blockchain plan—to educate the guests and for them to cascade it to others. This was done through one-on-one networking sessions with the participants and blockchain experts.
Unlocking a trillion-dollar global economy
Parimal Priyadarshi, the Vice President of blockchain-based app development firm NU10 Technologies, estimated that $1.6 trillion in the global economy is set to be unlocked by blockchain in the next seven years. He also added that India is a country that is well-poised to see its economy rapidly expand due to the advantages of blockchain technology.
This bet is behind the fact that even the National Informatics Centre, India’s ICT pillar, recognizes its benefits and uses blockchain services too. The NIC allows government departments to leverage blockchain services for whatever ethical purpose. Moreover, these departments are allowed to build, host, and use their own blockchain apps.
Empowering vaccine tracking and research for healthcare
Although the BSV blockchain can enliven the banking and finances industry, it can undoubtedly boost the world of healthcare. American University of Sharjah researcher Dr. Alia Sadawi talked about how the healthcare industry draws strength from blockchain, especially with its track-and-trace capabilities.
An immutable ledger brought by blockchain allows researchers to “effectively track and trace information and the distribution of vaccines.” COVID-19’s global concern indeed cooled down, but Sadawi asserts that blockchain has a “clear use case,” as it permits companies to “determine if a symptom occurs randomly or if it is associated with a certain company’s vaccine.”
Sadawi cites an idea to “link a mesh of information that helps the health sector on following up on the vaccine aftermath symptoms.” This initiative benefits healthcare researchers as vaccines usually take 10 to 15 years of research to know how it affects the human body.
Upholding efficient governance with blockchain
Blockchain’s power carries immense capabilities to streamline and optimize. UAE’s Advisor in Artificial Intelligence (AI) Saeed Mohammed Al Hebsi believes in such. He talked about how important blockchain is in enhancing government operations.
Improving government efficiency is the third pillar of UAE’s three pillars of blockchain adoption, and it plans to do this through moving 50% of government processes on-chain. Al Hebsi said that the first step of this pillar is to create awareness, as well as the plan to train government employees about using the BSV blockchain.
Industry leaders shall not forget that problems evolve over time. To combat this, investing the time, effort, and resources to the growth of emerging tech is a necessity.
The new year of 2023 gives everyone the chance to study the emerging potential of blockchain growth, as it will soon change the world of healthcare, governance, and customer service.
