Dubai Customs on Monday launched a new system using blockchain to improve trade. This will make things faster and clearer for businesses, inside Dubai and across borders. It marks a big step for the city’s digital plans and will help government and logistics companies work together better.
Sultan Ahmed bin Sulayem, chairman of the Ports, Customs, and Free Zone Corporation, said that the launch is part of a larger Dubai strategy for digital transactions, driven by Dubai’s Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum.
Using blockchain to simplify customs procedures and reduce paperwork can decrease administrative expenses for customs authorities. This technology also accelerates shipment processing, crucial for supporting UAE’s economic growth.
جمارك #دبي تعلن إطلاق منصتها المبتكرة في مجال البلوك تشين وذلك في خطوة رائدة تهدف إلى تعزيز كفاءة وشفافية العمليات التجارية داخل دبي وعبر الحدود، حيث تُعد هذه الشبكة الرقمية الآمنة والفعّالة إنجازًا هامًا في مسيرة التحوّل الرقمي.https://t.co/fSThXtvpcS@DubaiCustoms pic.twitter.com/DBUN3J7IpO
— Dubai Media Office (@DXBMediaOffice) July 8, 2024
Dubai’s Blockchain Platform Streamlines Customs Operations
The platform aims to boost trust and visibility in the supply chain through secure data sharing, fostering transparent and reliable business relationships. Moreover, it reduces paperwork and streamlines processes, resulting in significant cost savings for the stakeholders involved.
Highlighting its wider impact, the chairman said that the platform will not just improve Dubai Customs but also foster collaboration between government entities.
“We are proud to launch the new blockchain platform, which represents a quantum leap in enhancing the efficiency of business operations in Dubai,” Bin Sulayem said.
UAE Embraces Blockchain for Secure and Efficient Governance
The UAE has demonstrated its commitment to advancing blockchain through initiatives such as Dubai’s pioneering Blockchain Strategy. Launched in 2016, this strategy aims to improve government efficiency by envisioning Dubai as a blockchain-powered city.
In 2018, the UAE government launched the Emirates Blockchain Strategy. The goal is to execute 50% of all government transactions using blockchain.
Further, the UAE’s Roads and Transport Authority (RTA) is involved in a blockchain project for vehicle history. The project aims to create a system using blockchain technology to manage the complete lifecycle of vehicles.
The post Dubai Launches Blockchain Platform For Faster Customs Clearance appeared first on Cryptonews.
