Quantstamp, a Y Combinator-backed blockchain security company, won first place at the Smart Dubai Global Blockchain Challenge 2019. Smart Dubai is a government office running seven key initiatives in order to make Dubai “…the happiest city on earth through technology innovation.” One of these initiatives is the Dubai Blockchain Strategy, which aims to cement Dubai’s reputation as a global leader in technology innovation and the smart economy. The Dubai Blockchain Strategy also aims to make Dubai the first blockchain-powered city by 2020 and the global capital of blockchain technology.
Organized by Smart Dubai and Dubai Future Accelerators, the Smart Dubai Global Blockchain Challenge is part of the government’s Blockchain Strategy 2020, where blockchain will be used to enhance the quality of life of its citizens.
The core goals of the Dubai Blockchain Strategy include:
- Increasing government efficiency by using blockchain in 100% of applicable government services,
- Creating an active and enabling blockchain ecosystem for startups and businesses, and
- Leading the strategic thinking on the global progress of blockchain technology.
The United Arab Emirates, the national government, also has an aggressive blockchain strategy. By 2021, the UAE aims to record over 50% of government transactions using blockchain technology.
“The United Arab Emirates and the city of Dubai are pioneering the use of blockchain technology to make concrete improvements in the lives of their citizens,” said Richard Ma, CEO of Quantstamp. “Now that Quantstamp has won the Smart Dubai Blockchain Challenge, we will actively engage with our new network in the UAE in an effort to ensure that Quantstamp plays an active role in the implementation and security of their blockchain strategy.”
As one of 20 shortlisted startups, Quantstamp flew to Dubai to pitch its blockchain solutions at the Future Blockchain Summit. In the process, Quantstamp met with investors, networked with government officials, and connected with potential customers.
In his presentation, Quantstamp Head of Business Don Ho discussed why Quantstamp is essential for the mainstream adoption of smart contracts and blockchain technology. Smart contracts act as the back end code of blockchain technology that power most blockchain applications.
Quantstamp is a blockchain security company that conducts manual audits and automated scans and is developing security products, services, protocols, and other automated security tools powered by QSP. The Quantstamp protocol aims to enhance smart contract security and the reputation of projects that create smart contracts by producing openly accessible scan reports. Get an audit or run a security scan today at https://quantstamp.com/
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