In a bid to streamline supply chain operations and affirm its status as a leading smart city, Dubai Customs has unveiled a revolutionary blockchain platform. The initiative, announced in a statement by Dubai Media Office on July 8, is aimed at bolstering the city’s position as a trading and logistics global hub by digitally transforming traditional processes.
Ahmed bin Sulayem, Chairman of the Ports, Customs, and Free Zone Corporation, believes embracing blockchain technology will greatly enhance Dubai’s business environment and establish the city as a key player in global commerce. The technology is expected to reduce effort and accelerate customs clearance along with commercial transactions, making business operations in Dubai more efficient and transparent.
Crucially, the platform will improve the transparency of the supply chain process through secure and immutable data sharing, drastically reducing the amount of paperwork typically involved in customs procedures. Dubai Customs’ Director-General, Dr. Abdullah Busnad, emphasized the overarching aim to create a more efficient, seamless, and open business environment in Dubai.
While real-time tracking of supply chain items and anti-fraud capabilities have been long-standing promises delivered by blockchain, its widespread adoption faces several challenges. Despite this, many platforms and blockchains like VeChain and Chainlink have emerged to help automate and secure supply-chain processes. Notably, the Global Shipping Business Network (GSBN), a Hong Kong-based firm, has also been making significant strides in this space.
Committed to blockchain technology, Dubai Customs had previously launched a platform in January 2020 to aid cross-border e-commerce.