Bahrain has joined the growing list of countries which are implementing blockchain based technology for diversified projects. The Kingdom’s General Directorate of Traffic (GDT) has announced its intention to implement vehicle registration using blockchain technology and is looking for a partner to provide the necessary technical expertise.
Bahrain has made this decision to continue providing world-class services to its citizens. The chosen partner will provide the design and implementation of the blockchain system.
Currently, the Gateway Gulf Forum backed by Crown Prince, His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and Chairman of the Economic Development Board (EDB) is held in Bahrain.
Commenting on the announcement GDT Director-General Shaikh Abdulrahman bin Abdulwahab Al Khalifa said,
“This registry will be a vital advancement in reducing the overall cost of maintaining critical vehicle information, offer greater efficiency in terms of supply chain management, and ensure a high level of transparency for all stakeholders in the vehicle registration ecosystem.”
The decision to implement blockchain technology-based vehicle registration is part of a project to enhance services and encourage private sector-led opportunities. In August 2017, the Bahrain-based Arab Banking Corp. joined the R3 distributed ledger consortium in a effort to expand the range of services offered to customers.
The Bahrain government also sought advice from the Monetary Authority of Singapore last year to deploy a national blockchain pilot.
CEO of Bahrain Economic Development Board, Khalid Al Rumaihi said
“The ability for blockchain to be adopted at the country level is a huge opportunity for Bahrain to move into the spotlight as a pioneer in this space.”