FEATURE: BLOCKCHAIN
to have to consider the security implications
that this will have on their business.
Two points I do want to make though. For
one, in general, it’s impossible to release a
new technology with no bugs or security
holes. We don’t blame Apple for iPhone X bug
fixes just a couple of days after official release
on November 3, 2017, as this is part and
parcel of the rollout of any new technology.
I was disappointed a little bit, because I
was one of the first people who bought it
in Dubai Mall, but if a brand such as Apple
can’t give us releases without bug fixes a few
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days after release of a new product, what
can we expect from ‘freelance’ blockchain
developers? Essentially, I think we will have a
similar learning curve with blockchain – the
law of unintended consequences will rear its
ugly head!
The other is human error – take a look at
any technology and one of the weakest
links is always the users. It will be interesting
to see how blockchain developers address
this challenge.
VIMANA’s blockchain technology is different
– our engineers are hardening blockchain
platforms to international aviation safety
and security standards. Our blockchain has
to pass the toughest safety and security tests
in order for VIMANA aircrafts to be certified
for passenger operations.
How can blockchain be used to
eliminate human error?
Blockchain technology is used to run VBAN
algorithms that enable air traffic control,
collision avoidance and air corridors route
map compliance functionality. As such
human error is impossible as the AAV VTOL is
flown without human intervention. n
Avanza Solutions delivers
blockchain payments
platform in Dubai
A
vanza Solutions has implemented
a citywide blockchain based
payments platform in Dubai.
Avanza’s Blockchain Platform Cipher was
selected by the Smart Dubai Office under the
Dubai Future Accelerators (DFA) programme.
The programme pairs companies with
government entities in Dubai to create
breakthrough solutions together.
Through Cipher, Avanza has successfully
delivered an agile and instant reconciliation
and settlement platform to the Smart
Dubai Office for the DubaiPay payment
platform. Smart Dubai Office is rolling out
Cipher across all its existing 38 partner
government entities, partner financial
institutions and departments, to set up the
first blockchain based building block within
its financial plumbing. This is in line with the
vision of Sheikh Hamdan bin Mohammed
bin Rashid Al Maktoum to transform Dubai
into the first Government in the world to
execute all applicable transactions via
blockchain by 2020.
We spoke to Ali Safri Free, Lead Consultant of
Avanza Solutions, about DubaiPay.
How do residents of Dubai
use the system? Is it a case
of using it to settle bills with
government departments?
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INTELLIGENTCIO
Yes. What the citizens do is go to different
government websites or they can have a
Dubai Pay account and from this they can
make payments. What they can do is that
they can enquire about their bills and pay
them. It’s a very simple step for them, but at
the back-end of the system there is a whole
new science that happens with regards to
reconciliation and settlements.
Tell us about the back end of
the system.
At the backend Blockchain will enable the
payment of the funds that are being collected
by the banks when they pay for a particular
bill and get it into the hands of those entities
for which the payment funds were collected.
For example, the payment of a bill to the
Dubai Electricity and Water Authority (DEWA)
requires a certain number of steps to get
the money from the customer to DEWA.
This particular process is quite inefficient but
Blockchain will enable the process so that the
funds can be transferred in an optimised time.
How secure is Blockchain?
Blockchain is built under cryptographic
principles based on public-private key
cryptography so it is robust. Blockchain
provides more transparency and is more
secure compared to traditional systems.
What was the specific role
Avanza played with this system?
We conceived the system, designed it and
implemented the solution. We have acted as
the provider or the service partner for Dubai
Smart Government to optimise this backend
reconciliation and settlement process using
this particular Blockchain system.
Is this system more
efficient than what was
happening before?
Yes. The old process was quite inefficient. It
can take more than a month to settle a bill
but Blockchain is more robust and efficient.
There are multiple government
departments where the consumers go and
pay the bill.
In order to make the collections, Dubai
Smart Government has provided one service
whereby when you click on the pay button a
pop-up comes where you can either connect
directly to the biller or provide your credit
card number, so they route their transaction
to the appropriate backend bank. The bank
creates a personal account and informs the
biller that the bill is paid.
So this is how it happens; at the backend
there is a reconciliation and settlement
process because the funds are collected
by the bank, but they need to go to the
entity for which the funds were actually for,
because Dubai Smart Government is only
facilitating the collection of funds. n
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