Dubai will launch Blockchain Marketplace for tourism industry

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Over the next two years, the Dubai Tourism Blockchain Marketplace plans to add an "additional distribution channel for hotels" by connecting through Blockchain all travel agencies involved in the planning of the trip, providing guests with transparent, "real time" prices and choice in Dubai's tourism inventory.

The Tourism Blockchain Market initiative will allow smaller organizations to provide equal opportunities to attract tourists and increase employment in tourism in Dubai as a whole.

Helal Saeed Almarri, CEO of Dubai Tourism, said that the Dubai 10x project will "open up" at a new stage in the development of public services, turning a whole number of innovative ideas into reality.

Dubai Tourism Blockchain Marketplace stated that it will keep in touch with government regulators in the implementation of the new initiative.

In late February 2018, Dubai’s Road and Transport Authority (RTA) had announced its own plan for the release of the system based on Blockchain to track the vehicle's lifecycle by 2020, also part of the Dubai 10x initiative.

While Dubai hopes to become the first Blockchain government by 2020, both Dubai and the United Arab Emirates (UAE) last year issued regulatory warnings about the risks associated with cryptocurrencies and initial coin offerings (ICO), because of the potential use of crypto for criminal purposes, taking into account its anonymous nature.