Bahrain’s Minister Calls Blockchain a “True Mark of Progress”
While Dubai’s neighboring country, Bahrain, has not been particularly vocal regarding its stance on cryptocurrencies and blockchain technology, this recently changed when a government representative called blockchain a “true mark of progress” at the SmartSec Cyber Security and Blockchain Conference 2018.
According to a report of local media outlet News of Bahrain, Abdulhussain Mirza, Bahrain’s Minister of Electricity and Water Affairs, was keen to point out the importance of blockchain technology for the country’s future economy.
Blockchain, an imperative technology for the future of Bahrain’s economy
The minister said that “Technologies such as blockchain take us a huge step forward in finding a secure way to facilitate transactions.” He then added: “Blockchain’s ability to protect user’s data is a true mark of progress, especially due to the fact that it can be applied in different companies from different industries including cybersecurity.”
Mirza was also keen to point out that taking into consideration the remarkable advancements of blockchain tech in recent years, Bahraini talents should familiarize themselves with it. The same goes for the Bahraini companies which, according to the minister, should make the most of this innovative technology.
“This is the kind of initiative that we would like Bahraini companies to have so that innovation can arise amongst the great minds of this community,” he declared.
Blockchain and cybersecurity
The government’s representative has also discussed the security advantages that blockchain technology brings. He mentioned that the threat of international global cyber-attacks must not be underestimated.
“Cyber-security is an essential part of our lives because most of our daily lives involve the use of technology in one way or another,” he also declared.
“These global cyber-attacks affected more than 60 countries including Bahrain last year, and the Central Bank of Bahrain recently issued a warning to banks and financial institutions of orchestrated attacks planned at ATMs around the world,” the minister went on to further state.
You may be interested
How To Buy and Sell Bitcoin on Your iPhoneVladimir Ciobica - November 16, 2018
Mobile devices such as smartphones and tablets have since long been a crucial element of our modern lives. So much…
BCH Hard Fork: Bitcoin Cash (BCH) Splits into twoJoshua Tayo - November 15, 2018
Based on a recent report the highly anticipated Bitcoin Cash (BCH) hard fork stipulated to take place today, Nov 15…
Acting U.S. AG Caught Up in Crypto-related “Time Travel X” ScamSolomon Magawi - November 15, 2018
Matthew Whitaker, appointed by President Donald Trump as acting U.S. Attorney General, is a man in trouble. Whitaker is caught…