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Four innovative laboratories have been launched in the United Arab Emirates as part of efforts to position the country as a global hub to test future innovations.
Overseen by the Dubai Future Foundation, the labs will focus on aviation, energy, blockchain and entrepreneurship.
The labs were inaugurated by His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Monday. Commenting on the launch, he said (via online translation):
“Today, we have launched four innovative labs that will focus on predicating the future of aviation, energy, blockchain and entrepreneurship. Our end goal is to make these labs a hub for launching future-oriented innovations that will eventually upgrade our business and service sectors…These labs will support the UAE Centennial Plan 2071 and will lay the foundations for building a global centre to test future innovations of the country.”
As per the details, the Blockchain Future Lab has been launched in collaboration with IBM. It will aim to bring together government entities and blockchain technology providers to facilitate the use of this technology in developing products and services by establishing a testing environment in partnership with entrepreneurs and specialized companies in AREA 2071.
“A diverse team of IBM experts will work with customers to develop new ideas, then test and develop them quickly, building on the company’s global expertise, assets, diverse partnerships and extensive network,” according to the press release.
Just recently, the Securities and Commodities Authority (SCA) published a draft policy for crypto assets regulation and is seeking industry feedback. The draft covers a range of activities related to cryptocurrencies – their issuance, circulation, as well as custody.
