(khaleejtimes)– The Roads and Transport Authority (RTA) proposed its “end-to-end vehicle lifecycle management using Blockchain” project for the Dubai 10X Initiative – an ambitious venture overseen by the Dubai Future Foundation (DFF).
The project seeks to improve customer experience by providing a holistic view of vehicle-lifecycle services using Blockchain technology, starting from the manufacturer all the way to the scrap yard. Using Blockchain makes the RTA a pioneer in building the first vehicle lifecycle management system, which will later be expanded and implemented around the world.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council and Chairman of DFF’s Board of Trustees, launched the bold plan, among a bundle of avant-garde proposals for Dubai 10X at the 6th World Government Summit, held in Dubai in February 2018.
The Dubai 10X initiative seeks to place Dubai Government entities 10 years ahead of the rest of the world in all sectors, propelling the emirate into the future by implementing today what other cities will be implementing 10 years from now.
Mattar Al Tayer, Chairman of the Board and Executive Director of the Roads & Transport Authority (RTA), revealed that the “end-to-end vehicle lifecycle management using Blockchain” project will be the first government platform in the world to offer a reliable source of vehicle history information, making Dubai – and the UAE – a major hub for the automotive industry in the region, which will positively influence both the local and regional car markets, and the car-manufacturing industry as a whole.
“Blockchain provides a transparent record to the entire business network, allowing buyers and sellers of each vehicle to track where the vehicle is in its lifecycle,” Al Tayer stated.
“The platform benefits many stakeholders,” he explained, “including car manufactures, dealers, regulators, insurance companies, buyers, sellers and even garages, providing transparency and trust in vehicle transactions, preventing disputes and lowering the cost of services.
It also tracks ownership, sale, and accident history to create smart, more efficient systems for supply chains, Internet of Things networks, multimedia rights management, Government proof of identity, and insurance record management.”
In its earliest stages, the platform will cover all cars in Dubai, before extending to cover all cars in the UAE to ensure the integration of vehicle information. “The Authority will begin implementing the register as of Q1 2018, in the hopes of launching the completed system in 2020,” Al Tayer revealed.
DFF’s CEO Khalfan Belhoul said: “We are at the beginning of a new era for the transport sector: Sheikh Hamdan launched the RTA’s path-breaking initiative at the sixth World Government Summit. the ambitious project will be made reality in Dubai within the next 24 months.”
“Blockchain and Artificial Intelligence have become indispensable for the delivery of future government services. By introducing the Dubai 10X projects, the emirate draws one step closer to achieving the Dubai Plan 2021” Belhoul added.