Blockchain Technology

Many industry leaders have recorded significant benefits by adopting blockchain technology in their business operations, including greater transparency, enhanced security, improved traceability, increased efficiency and speed of transactions and reduced costs.

The Economic Development Board, in cooperation with the Information & eGovernment Authority (iGA), has developed the National Strategy for Blockchain in the Kingdom, which will set the general directions and support the adoption of blockchain technology within the public and private sectors.

Examples of blockchain application in the public sector in Bahrain include:

• The Blockchain Vehicle Registration project at the General Directorate of Traffic (GDT) (Arabic Only) is part of the Government’s drive to achieve the objectives of Bahrain’s Economic Vision 2030. The project supports Bahrain's plans to employ modern technologies to further develop services and enhance the role of the private sector. The new registration system significantly reduces the cost of maintaining basic vehicle data and enables vehicle registrars to obtain accurate and up-to-date vehicle information with greater efficiency and transparency.
• The University of Bahrain (UOB) has adopted blockchain technology to become one of the first educational institutions in the region to award certificates to its graduates through this technology. Through blockchain technology, it is possible to achieve greater security and to verify the academic certificates granted by UOB from anywhere in the world. This ensures the issuance of certified digital certificates that cannot be falsified and can be easily shared with employers and other universities.
• APM Terminals, the operator of Khalifa Bin Salman Port (KBSP), is working on adopting blockchain technology in coordination with various stakeholders, including customs authorities and customers. The systems at KBSP have been configured, and, once the Customs Authority has configured its part of the chain, Bahrain will be on the blockchain technology map.