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Dubai is a frontrunner in adopting the latest technology and has set a goal to become the world’s first government to execute all implementable transactions on the blockchain by 2020. The government initiatives in this direction present tremendous business opportunities for the private sector in the UAE.

There is a current global shortage of object oriented programmers and developers. We need to ensure sufficient availability of trained manpower and as these opportunities are accruing across all sectors, we will see a lot of blockchain implementation in [the] near future across government as well as private sectors.

The distributed ledger technology could cut bank transactions by $15 to $20 billion a year by 2022. With the possibility of removing costs of manual processing, processing errors and re-work it could deliver savings as much as 75 percent.

SOURCE https://www.cryptocoinsnews.com