Bahrain’s government has focused on the significance of blockchain technology for the nation’s economy while asking cybersecurity vigilance, local media outlet News of Bahrain revealed Tuesday, September 4.
As a major aspect of an address to the people at the nation’s SmartSec Cyber Security and Blockchain Conference 2018, Abdulhussain Mirza, Bahrain’s minister of electricity and water issues, seemed to affirm the administration’s pledge to cultivating blockchain.
“Technologies such as blockchain take us a huge step forward in finding a secure way to facilitate transactions,” Mirza stated, including:
“Blockchain’s ability to protect user’s data is a true mark of progress, especially due to the fact that it can be applied in different companies from different industries including cybersecurity.”
Bahrain has generally remained to some degree quiet in regards to its position on both blockchain and cryptocurrency. While neighboring Dubai has looked to upset its economy utilizing blockchain, the Internet of Things (IoT), and artificial intelligence (AI) recently, Mirza’s words stamp an uncommon official comment in this circle for Bahrain.
Regardless, in June, the nation issued its first “sandbox” permit to cryptocurrency exchange Palmex, enabling the last to trial its services while regulators look on and think about essential controls.
Meanwhile, Mirza additionally advised about the need to build safety using blockchain, taking note of that this is the kind of initiative that we would like Bahraini companies to have so that innovation can arise amongst the great minds of this community”:
“Cyber-security is an essential part of our lives because most of our daily lives involve the use of technology in one way or another.”