Digital Dubai has become the first city to issue secured digital certificates using Soulbound Token technology, the most advanced generation of non-fungible tokens. The technology ensures that certificates are permanently linked to a person’s account in their digital wallet and ownership cannot be transferred, sold or disposed of. Digital Dubai’s director general, Hamad Al Mansoori, said that the certificates allow individuals and institutions to showcase their achievements in a sovereign and trusted way without relying on third parties. The move is part of Dubai’s drive to become a global leader in the digital economy.
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Dubai has high aspirations for its national digital economy, which it expects to grow to more than $140bn in 2031, up from almost $38bn today. To achieve its goals, the UAE Cabinet approved the formation of the Higher Committee for Government Digital Transformation last year and Dubai also established the Higher Committee for Future Technology and Digital Economy to focus on developing the sector. An “impenetrable electronic security system” will help mitigate potential risks in the journey to digitalise all aspects of life in the city, said Mr Al Mansoori.