News
Dubai Customs Relies on Blockchain Technology to Improve Operations and Transparency
Dubai Customs has introduced a new blockchain platform to improve transparency in trade transactions within and across its borders, Gulf News reported July 8th.
The initiative aims to strengthen collaboration between government bodies and the logistics sector, aligning with the Emirate broader blockchain strategy for digital transactions and web3 adoption.
Sultan Ahmed bin Sulayem, Chairman of Ports, Customs, and Free Zone Corporation, announced the launch as part of Dubai’s ambitious blockchain strategy. Bin Sulayem expressed pride in the launch, noting that it marks a significant step forward in improving the efficiency of trade operations in Dubai.
The platform is expected to contribute substantially to improving the business environment and cementing Dubai’s status as a global hub for trade and logistics. The adoption of modern technologies such as blockchain is seen as a key factor in supporting Dubai digital strategy and efforts to streamline business operations.
Simplicity and safety
The blockchain platform offers numerous benefits designed to streamline business processes. One of these benefits is the simplification of customs clearance and trade transactions, which saves time and effort for all parties involved.
The platform also provides secure and tamper-proof data sharing, improving trust and visibility across the supply chain. This capability promotes more transparent and trustworthy business relationships and reduces red tape and process complexity, leading to significant cost savings.
Additionally, the platform speeds up customs clearance procedures and reduces overall transaction times by enabling simplified data exchange and automated processes.
The inherent transparency of blockchain technology increases trust throughout the trade process by allowing participants to independently verify protected records, while real-time tracking of goods provides greater visibility into the supply chain, contributing to efforts to combat fraud and counterfeiting.
Abdullah Busnad, Director General of Dubai Customs, highlighted the role of the platform in facilitating trade and strengthening Dubai’s status as a global logistics hub. He stressed that the platform would 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.
The launch of the blockchain platform marks a significant step in Dubai’s ongoing efforts to leverage cutting-edge technology to enhance its business environment, reinforcing the emirate’s vision of becoming a major global trade and logistics hub.