Minister of Bahrain welcomes the blockchain technology and encourages its spread
Minister of the Kingdom of Bahrain on the issues of energy and water resources Dr. Mirza Abdulhussain called blockchain technology “is the true indicator of progress” and urged the Bahraini companies to take full advantage of its benefits.
Speaking at the conference SmartSec Cyber Security and Blockchain Conference in 2018, Mirza, quoted by the newspaper News of Bahrain, said that the blockchain technology is a major achievement, which will help to find a reliable way to carry out transactions. The Minister said:
The ability of the blockchain to protect user data is the true measure of progress, since it can use companies in various industries including cybersecurity.
The Minister called on companies to take this initiative because it promotes “innovation” among the “great minds of the community.” He also spoke about cybercrime and the threat that they pose to the world.
According to Mirza, “cyber security is an important component of our lives,” and the threat of cyber-attacks should not be underestimated.
The Minister, in particular, noted:
Last year these attacks have affected more than 60 countries, including Bahrain and the Central Bank of Bahrain has recently written to banks and financial institutions warning about the plan the coordinated attack on ATMs around the world.
Until now, the government of Bahrain has not designated the position in relation to the blockchain and cryptocurrency, while their colleagues from Dubai continue to carry out a revolution in the region, making giant steps in the direction of the blockchain, the Internet of things and artificial intelligence.
Note that the Bahraini authorities had previously issued Palmex funded ArabianChain Technology exchange of digital assets, the license for the experimental site.