An Assessment of impact of block chain on UAE economic mechanism | Original Article

ABSTRACT:

Adoption of technology by a nation to enhance living standards, ease of doing business, and transparency offers the country a competitive edge. Technologies are assisting nations in a variety of ways to boost economic development by lowering manufacturing costs, introducing new enterprises, and advancing communication. This research tried to examine the influence of block chain technology on the UAE's economic mechanisms. Furthermore, the influence of resident comprehension of block chain on UAE economic mechanisms was studied. According to the study, the UAE government is keen to deploy block chain technology in all fields. However, we can estimate its level of readiness based on the responses. Using blockchain technology for economic development, on the other hand, offers enormous growth and development potential. This has already had an impact on the UAE's government and business sectors. However, as seen by the 4 score, block chain technology is thriving in the UAE. With a marginal rate of 0.89, blockchain technology has a significant impact on economic activity in the UAE, affecting both the public and commercial sectors.