4,4117 is the combined number of patents and patent applications around the world with the keyword Blockchain in the title or within the application, according to Google Patents in July 2018.
The race is on to be a major player in Web 3.0 with Blockchain Technology.
Dubai is planning to become the first blockchain government by 2020.
Smart contracts are a key factor in making Dubai run 100% of government transactions on Blockchain. They will follow pre-defined logic that processes exceptions and conditions allowing for lock-step execution to fulfill a contract. Contracts and their history will become immutable, tamper proof and an efficient audit and dispute resolution ledger.
Dubai expects that blockchain adoption would reduce government documents by 389 million, save millions of work hours and greatly enhance the happiness factor of their population.
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