The Road and Transportation Authority (RTA) of Dubai has unveiled plans to initiate a blockchain-based transport management system enabling users to track their car from its construction to the scrapyard. The RTA plans to initiate the system in the next two years, by 2020. The project comes under the Dubai 10X initiative whose aim is to make Dubai government 10 years more advanced than the rest of the world.
The 10X initiative was launched at the 5th World Government Summit last year by Sheikh Rashid Al Maktoum, Crown Prince of Dubai and chairman of the Dubai Executive Council.
This new blockchain powered system will be one of the first government launched programs offering such a service through the blockchain technology. The RTA stated that the Arabian Chain will provide a transparent record of the entire business network enabling buyers and sellers of vehicles to track where the vehicle lies in its lifecycle. The platform will benefit different stakeholders like car manufacturers, dealers, regulators, insurance companies, buyers, sellers and even repair shops. It is supposed to track ownership, sale and accident history to create better systems for supply chains.
The American technology behemoth, IBM will be consulting on the project. According to media reports, Emirates ID, Dubai Police, Dubai Customs, Department of Economic Development, among others are set to partner with the new vehicle tracking management system, while The it will be overseen by the Dubai Future Foundation (DFF).
Blockchain could be just another instance where adoption of an original invention goes on to clip the original function, just like the internet. The internet has left people wondering, what life would be without it. Can Blockchain go on to become the same entity, after bitcoin becomes obsolete? Everything depends on the ability to store data and then process it without using up much energy. For now, it’s too soon to say.
