Dubai Customs has launched an advanced blockchain platform to enhance transparency and efficiency in commercial operations within Dubai and other countries.

Enhancing Dubai’s Business Environment

This new blockchain platform aims to improve efficiency in the supply chain, contributing to Dubai’s efforts to boost non-oil trade. It aligns with Dubai’s ambitious strategy for digital transactions.

Key Benefits of the Blockchain Platform

The platform offers numerous benefits, including:

  • Streamlined customs clearance processes
  • Reduced paperwork
  • Significant cost savings

The technology simplifies procedures, saving time and effort for all involved parties. By streamlining processes, it reduces the likelihood of errors and enhances efficiency. The platform provides secure and tamper-proof data sharing, which builds trust and visibility across the supply chain, fostering more transparent and reliable business relationships.

Part of a Broader Strategy

This blockchain platform is part of Dubai’s broader efforts to boost non-oil trade and establish the Emirates as a world-class e-commerce center. The initiative was initiated by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai.

“We are proud to launch the new blockchain platform, which represents a quantum leap in enhancing the efficiency of business operations in Dubai. This innovation reflects our vision to make Dubai a global hub for trade and logistics,” said Sultan Ahmed bin Sulayem, Chairman of the Ports, Customs, and Free Zone Corporation.

Collaboration and Efficiency Gains

The platform supports Dubai Customs and is a crucial tool for collaborating with other government entities. This cooperation aims to enhance Dubai’s business environment, making it more efficient, streamlined, and transparent.

Atiq Almehairi, Executive Director of the Customs Development Division at Dubai Customs, highlighted the platform’s efficiency gains. He pointed out that blockchain technology’s inherent transparency would bolster trust throughout the commercial process. The platform enables real-time tracking of goods, providing greater visibility into the supply chain and aiding efforts to combat fraud and counterfeiting.

This initiative aligns with the Emirates Blockchain Strategy 2021, which aims to transition 50% of government transactions to blockchain technology. The platform’s ability to streamline procedures, enhance transparency, and foster trust is expected to benefit stakeholders in the trade ecosystem.

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