Bahrain to Cut Vehicle Registration Data Storage Costs Using Blockchain

Bahrain is Eyeing Blockchain Technology to Cut Vehicle Data Storage Costs

0 425
  • Kingdom of Bahrain to cut cost on maintaining vehicle registration data using Blockchain.
  • To achieve this, the kingdom seeks a technical partner to focus on the design and implementation of the system.

The Bahrain Kingdom is considering the use of blockchain technology to reduce the cost associated with the maintenance of the country’s vehicle registration data.

On Thursday, Bahrain’s General Directorate of Traffic (GDT) released the announcement about the adoption of a new vehicle registration system based on blockchain technology within the country. GDT now seeks a technical partner to focus on the design and implementation of the system. The DG of the GDT, Shaikh Abdulrahman bin Abdulwahab Al Khalifa, released a statement stating that:

“This registry will be a vital advancement in reducing the overall cost of maintaining critical vehicle information, offer greater efficiency in terms of supply chain management, and ensure a high level of transparency for all stakeholders in the vehicle registration ecosystem.”

The announcement was made during the Gateway Gulf Forum supported by the kingdom’s crown prince. GDT’s plan to launch the system comes as part of a broader move by the kingdom of Bahrain to deliver advanced technologies via collaborations with the private sector.

According to a local news report, the Bahrain government earlier last year begun a discussion with the Monetary Authority of Singapore, to seek advice on deploying a national blockchain pilot. Khalid Al Rumaihi, who is country’s Economic Development Board CEO, stated at that time that:

“The ability for blockchain to be adopted at the country level is a huge opportunity for Bahrain to move into the spotlight as a pioneer in this space.”

You might also like