DED Launches ‘Dubai Blockchain Business Registry’
Global News

DED Launches ‘Dubai Blockchain Business Registry’

Project seeks to integrate business registration and licensing

As part of the 'Dubai Blockchain Strategy' launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the DED has launched 'Dubai Blockchain Business Registry' with the goal of achieving a quantum leap in the efficiency of government transactions.

The project seeks to integrate business registration and licensing thereby creating an efficient and seamless experience that will further simplify the process of starting and running a business anywhere in Dubai.

The Registry will be a repository of digitised business licenses and related documents and will ensure regulatory compliance across the business ecosystem in Dubai.

The 'Dubai Blockchain Business Registry' is now being implemented at Dubai Silicon Oasis (DSO), the integrated technology park of the Dubai Silicon Oasis Authority, where licensing information is shared across the blockchain to provide quick and easy access to data.

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Free zones that are not linked to the 'Dubai Blockchain Business Registry' yet can register manually through the approved service centres within a period of three months.

The Blockchain Business Registry Project reflects the economic strategy of Dubai to advance towards Industry 4.0.

The Business Registration & Licensing (BRL) sector in DED has also signed an agreement with axs, a subsidiary of Dubai Holding, to license and register free zone companies in TECOM.

A smart gateway for integrated services, axs serves as a one-stop shop for TECOM Group entities to fulfill their varied requirements, from business licensing and registration to office space leasing.

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