Specialists and a large number of youths attended a special workshop on 12th December to discuss the technology of the future “blockchain”. The workshop included several discussions regarding the definition of blockchain technology, highlighting its components, applications, and challenges facing implementation. Young people brainstormed the advantages and opportunities offered by blockchain technology like the provision of government services based on this technology in the cities of Dubai, Estonia and Singapore, as well as their applications in the areas of logistics, maritime transport, banks, and financial services.
It discussed the challenges and threats associated with blockchain technology applications, for instance, the harmful use of technology in terrorist financing, money laundering, and illegal activities in what is known as the dark web. Those young participants took into consideration the limitations of using the technology to make use of it, most notably the lack of legislation to regulate its usage, the lack of trust among the users, and finally the absence of an accountability system to track the cases of crimes and violations resulting from the use of technology.