Dubai Museum of the Future Foundation launches research council focused on blockchain tech

Innovation | February 19, 2016 By:

The Dubai Museum of the Future Foundation announced the formation of a research council focused on blockchain technology.

The Council will examine the blockchain’s impact on future business and finance, and its role in facilitating transactions within both the financial and non-financial sectors as ways to improve efficiency and reliability levels, according to a release from the Dubai government.

The Global Blockchain Council will consist of 32 members including government entities (Smart Dubai Office, Dubai Smart Government, the Dubai Multi Commodities Centre (DMCC), international companies (Cisco, IBM, SAP, Microsoft) and blockchain startups (BitOasis, Kraken and YellowPay).

The Museum of the Future was created with the mandate to encourage innovation and help foster investigation of new technologies within the Middle Eastern nation.