Dubai Customs Introduces Blockchain Tech to Enhance Trade Transparency

An innovative blockchain platform has been introduced by Dubai Customs with the goal of increasing efficiency and transparency in business dealings both domestically and globally. This program is in line with Dubai’s strategic objectives to improve the business climate and support non-oil trade.

Numerous advantages are promised by the new blockchain network, such as fewer paperwork, expedited customs clearance procedures, and substantial cost reductions. Technology speeds up business transactions by streamlining procedures, saving time and effort for all stakeholders.

Boosting Non-Oil Trade

The platform not only enhances efficiency by streamlining processes and reducing errors but also offers secure and tamper-proof data sharing. This transparency builds trust and visibility across the supply chain, fostering more reliable business relationships.

The introduction of this technology is a significant part of Dubai’s broader efforts to boost non-oil trade and position the Emirates as a leading e-commerce hub. This initiative was spearheaded by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai.

Sultan Ahmed bin Sulayem, Chairman of the Ports, Customs, and Free Zone Corporation, expressed pride in the launch. “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,” he stated.

The blockchain platform aligns with Dubai’s ambitious strategy for digital transactions, further establishing the city as a world-class e-commerce center. This technological advancement is expected to significantly contribute to the Emirates’ efforts in boosting non-oil trade.