Dubai Focuses on a Public Blockchain

The Hong Kong Securities and Futures Commission (SFC) and Dubai are partnering.

It is a cooperative agreement. Hong Kong will help Dubai build technology. Dubai wants to be is already putting documents on a  blockchain and is setting up digital passports.

as we have  observed before, this progress is in the public sector. Crypto may have public applications but many of the changes will take place  privately.

Dubai is using technology  to re-enforce the way things are currently, not to make things less controlled.  Dubai’s government may think crypto will just strengthen what is already there, but in fact it may move over time in opposite direction.

That won’t help Dubai’s government but it will help rationalize regulation and eventually make it more modest.

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