Eternity Law International News Dubai Blockchain Policy

Dubai Blockchain Policy

Published:
July 6, 2021
Share it:

This Policy sets forth certain rules regarding the use of blockchain in government transactions that apply to Dubai government authorities, blockchain networks and the private sector.

Scope of application

This Policy applies to those government authorities in Dubai that want to form a new blockchain network, actively use the blockchain, or become part of an existing blockchain network, as well as to representatives of the private sector wishing to join the government blockchain network of Dubai or the blockchain platform. In addition to all of the above, the Policy applies to blockchain networks and platforms created, hosted or affiliated with Dubai government bodies.

The provisions of this Policy must be adhered to by all relevant stakeholders. The City Office of Smart Dubai (SDO) should align its activities with the Emirate’s blockchain strategy in order to strengthen support for a more successful implementation of the Blockchain Policy across the UAE.

Network creation

Blockchain networks for government agencies that are created in Dubai must obtain approval from the SDO, which for its part is committed to ensuring the effectiveness and efficiency of the blockchain networks created in this way throughout the government.

SDO is granted the right to assume certain functions, in particular:

  • monitor the compliance of the prevailing blockchain networks that are subject to this Policy;
  • to approve the formation of a new blockchain network after the assessment of supporting documents that such organizations must provide;
  • appoint and reassign network operators who manage government blockchain networks;
  • appoint a committee or a number of regulatory representatives for a specific sector or important stakeholders in order to oversee the creation of the public blockchain network and implement governance decisions.

Intellectual property rights

Blockchain operators and government authorities in Dubai are encouraged to clearly define and address ownership and all related other intellectual property rights that are shared, developed in relation to or associated with the blockchain. Data ownership and other intellectual property rights that are in any way related to the data must be further processed and determined in accordance with the provisions of the Dubai Data Law and Data Policy.

Data confidentiality

All blockchain networks covered by this Policy, and participants in such networks, are required to comply with the provisions regarding data privacy as outlined in the Dubai Data Law and other relevant policies. They must classify all data transmitted over blockchain networks in accordance with the rules of the Data Classification Framework – Dubai Data Establishment (DDE). The procedure for maintaining the confidentiality of data must be strictly observed under all conditions, in particular, no personal information can be recorded directly into the blockchain network. In order to transfer your data through the blockchain network, you need to obtain permission from legal entities and individuals, and this procedure must be performed in accordance with all Dubai data policies.

Communication and acceptance

All blockchain networks that are subject to this Policy are required to publish and maintain a communication plan containing a detailed description of the blockchain services provided over the network, future plans and a roadmap.

Smart contracts

All blockchain networks that are subject to this Policy and use smart contracts to automate legal obligations or for other legal application must ensure that all such contracts are legally verified and are technically reliable so that they are fully compliant the requirements set out in existing regulations and laws. All parties to the contract must have access to the smart contract. In addition, the contract must be converted into English or Arabic. Digital signatures of each of the parties must be provided after digital identification and direct agreement with the terms of the contract from all parties.

Public interest

Dubai government agencies, private companies, SDOs, important stakeholders and other stakeholders that are subject to this Policy should also pay attention to the public interest and the safety of the public when using blockchain. In particular, the parties listed should strive for the following:

  • taking measures to protect the safety and health of the population;
  • supporting transparency and accountability;
  • ensuring the protection of consumers and other beneficiaries;
  • allowing intergovernmental cooperation;
  • helping to provide more efficient and better quality public services;
  • support and protect important academic, technological and economic sectors;
  • maintain the infrastructure of the Emirates;
  • take measures to prevent crime.

Summing up

The UAE has always strived to take the leading position in the world in the field of technological advances. The country quickly adopted and implemented binding regulations, recognizing the potential of the newly discovered technology formats and creating a possibility to obtain crypto-license in a respectful jurisdiction. A transparent way of maintaining the registry and blockchain technology is still at an early stage and not fully implemented, however, the rules in force at this stage require all users to consider carefully the procedures set out in the laws and remember them.

Table of contents

You could be interested

Bank against "payment"

BANK AGAINST “PAYMENTS”: SIMILARITIES AND DIFFERENCES OF TWO FINANCIAL SOLUTIONS In the XXI century, a significant part of the business has moved to a worldwide network. Next came the services that they needed for registration, consultations and financial transactions. Thus, the phrase that the bank is against “payment” became relevant. Banks with large capital are...

Commercial Attorney Austria

Choosing the right commercial attorney in Austria is not just about legal knowledge — it’s about having someone who can fight in your corner when the stakes are highest. Austria’s legal landscape can be complex, and the consequences of a wrong move are serious. That is why businesses, entrepreneurs, and individuals turn to seasoned lawyers...

Company registration for ICO

More and more people are thinking about how to make profitable investments in new technologies and legally reduce the costs of personal business to pay taxes and fees, so the registration of companies for ICO is a logical step for everyone. Eternity Law International specialists help clients to implement projects to create promising companies for...

PSP license in Switzerland

Switzerland is one of the most prestigious and profitable jurisdictions for establishing and developing a business. To open a payment institution in Switzerland, you must obtain a special PSP-license from the regulatory authorities. The financial industry regulator in this jurisdiction is FINMA. It is important to understand that licensing a business in Switzerland has many...

Choosing a right canton: guidance on Swiss taxation

Taxation is levied at three levels: federal, cantonal and communal. The federal part is uniform across the country, while cantons and communes set their own rules within a framework of harmonisation law. The harmonisation does not equalise rates; it only defines the general tax base, deductions, depreciation rules and how profits and losses are calculated....

Crypto License in Poland

Working in the EU’s crypto sector means adjusting to new directives. For any company wanting to work in this area, the Poland Crypto License is an attractive choice. Operating in the EU crypto-market now means aligning with Polish crypto regulation MiCA. In Poland, the competent authority KNF supervises crypto-asset service providers (CASPs) under the new...

Related posts

Dubai DIFC Broker with DFSA Cat 3A License – Active & Compliant

Dubai, the City of Gold, has long held a special place in the financial landscape of the Middle East. Nevertheless, when it comes to regulated activities at the international level, one of the most appealing venues is the Dubai International Financial Centre or DIFC. This is not just a prestigious location – it is a...

Investment Opportunities in Dubai 2025

Dubai continues to shine as an indisputable destination for global investors. Alongside the ups and downs of the international economy and some recent geopolitical uncertainties, the city has maintained an extremely high pace of development. As 2025 kicks off, Dubai is putting forward a broad mix of promising investment paths in diverse industries such as...

Why choose Meydan Free Zone for company establishment in Dubai?

When setting up a business in the United Arab Emirates, many global investors and entrepreneurs regard company formation in Meydan as the optimal choice. Nestled in central Dubai near the renowned Meydan Racecourse, this free zone offers an unrivaled location, state-of-the-art facilities, and an efficient setup process. In this detailed overview, we explain why Meydan...

Advantages of Dubai IFZA Business Setup

In the contemporary, ever-evolving international milieu, scrupulous entrepreneurial strategizing is indispensable for enduring triumph. The mechanism of Company formation in IFZA constitutes the bedrock upon which a resilient enterprise is erected in a fiercely competitive environment. Visionary entrepreneurs aspiring to attain global ascendancy apprehend that an impeccable formation blueprint amplifies credibility and unfurls novel avenues...

Dubai Media City Free Zone: Perfect place to start your media business

A fantastic setting for creating content for brands is provided by the innovative startup community known as DMC. This open-access district, established to foster innovation and teamwork, boasts cutting-edge amenities, easy authentication methods, and a vast network of media experts. If you’re an aspiring founder, an established media mogul, or a freelancer, company formation in...

DMCC Dubai: A Reliable Place to Register Your Business in 2025

This region persists to claim its status as a worldwide monetary centre, alluring founders  and corporations seeking enlargement, novelty, and deliberate gains. Among its many free zones, DMCC (Dubai Multi Commodities Centre)stands out as the most reliable and dynamic destination for commercial submission. With an easy founding routine, investor-friendly policies, and an ecosystem created for...

Discover our services

The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.

Fill the blank: