Dubai Customs has announced the launch of its blockchain platform, a pioneering step aimed at enhancing efficiency and transparency in commercial operations within Dubai and across borders. This secure and efficient digital network marks a significant achievement in Dubai’s digital transformation journey, strengthening collaboration between government entities and logistics industries. According to the Government of Dubai Media Office, the launch reflects Dubai Customs’ commitment to innovation and its vision to consolidate the emirate’s position as a leading global trade hub.
Exploring latest technological innovations
His Excellency Sultan Ahmed bin Sulayem, chairman of the Ports, Customs, and Free Zone Corporation, stated that the platform’s launch is part of Dubai’s blockchain strategy for digital transactions, initiated by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai. The platform aims to explore and evaluate the latest technological innovations that can provide secure, efficient, and effective services, thereby enhancing Dubai’s position as a leading global city in advancing technology and smart economy initiatives. The platform also helps consolidate Dubai’s entrepreneurship and global competitiveness capabilities.
Enhancing business operations through blockchain
Bin Sulayem said, “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. We believe that adopting modern technologies like blockchain will significantly contribute to improving the business environment and enhancing Dubai’s position as a major centre for global trade. We are committed to supporting all efforts aimed at improving and simplifying business operations in Dubai and supporting its digital strategy.”
What advantages does the blockchain platform offer?
The new blockchain platform will provide numerous benefits that significantly enhance business operations. This includes simplified procedures to expedite customs clearance and commercial transactions, saving time and effort for all parties involved. Furthermore, it facilitates secure and tamper-proof data sharing to enhance trust and visibility across the supply chain, contributing to building more transparent and reliable business relationships. Additionally, reducing paperwork and streamlining processes leads to substantial cost savings.
Strengthening Dubai’s position as global logistics hub
Dr. Abdullah Busnad, director general of Dubai Customs, highlighted that the blockchain platform launch is a crucial step in facilitating trade movement and enhancing Dubai’s position as a global logistics hub. The platform will not only benefit Dubai Customs but also serve as a valuable tool for collaboration with other government entities, making the business environment in Dubai smoother, more streamlined, and transparent, Busnad added.
.@DubaiCustoms launches blockchain platform in a pioneering step aimed at enhancing efficiency and transparency in commercial operations within #Dubai and across borders.https://t.co/H7aE0LWv5J pic.twitter.com/R5C0opz7Zv
— Dubai Media Office (@DXBMediaOffice) July 8, 2024
Aligning with vision of Dubai’s leadership
Dr. Busnad said, “We always strive to contribute to achieving the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, in enhancing Dubai’s sustainable business environment through digital initiatives. This initiative represents a vital step towards a bright and spectacular future for trade and government services, ensuring the emirate’s innovation and global leadership journey continues.”
Read more: Dubai Chamber member exports surge to $23.1 billion in May
Enhancing service efficiency, supply chain visibility
Atiq Almehairi, executive director of Customs Development Division at Dubai Customs, underscored the importance of the blockchain platform in improving service efficiency through simplified data exchange and automated processes, speeding up customs clearance procedures, and reducing overall transaction times.
Moreover, the inherent transparency of blockchain technology will enhance trust throughout the commercial process, allowing all participants direct access to a secure record that they can verify independently. Additionally, blockchain enables real-time tracking of goods, providing greater visibility into the supply chain and facilitating efforts to combat fraud and counterfeiting.
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