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Dubai Customs Adopts Blockchain for Secure Data Sharing

Dubai Customs is leveraging blockchain to streamline operations, reduce paperwork, and enhance data security in the entrepreneurial sector.

1 min 43 secJuly 10, 2024
Dubai Customs Adopts Blockchain for Secure Data Sharing

Dubai Customs has launched a blockchain platform designed to streamline supply chains. The platform also reduces paperwork, enhancing data security. This move aims to bolster Dubai's entrepreneurial sector by fostering a more transparent and efficient commercial environment.


Unveiled recently the blockchain platform promises secure, tamper-proof data sharing. Merchants can now track goods in real time addressing critical challenges in Dubai's business environment. Sultan Ahmed bin Sulayem is the Chairman of Dubai's Ports, Customs and Free Zone Corporation. He hailed the initiative as 'quantum leap' for the city's commercial operations.

 

"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," - Sultan Ahmed bin Sulayem


Blockchain also known as distributed ledger technology, ensures data is stored across multiple nodes. This makes it difficult for hackers to breach the system. This decentralized approach also creates a permanent record of transactions. It enhances transparency and accountability.

 

The initiative isn't Dubai's first foray into blockchain. In May Dubai announced a strategy to become one of the top ten metaverse-ready economies. Additionally, in October 2023 Dubai partnered with the Solana Foundation to provide blockchain infrastructure for the Dubai Multi Commodities Centre (DMCC). This supports businesses in scaling their operations.

 

 

Other influential countries are also embracing blockchain technology. China is a blockchain innovation leader, testing the digital Yuan to advance national innovation while cautious about cryptocurrencies. Germany excels in integrating blockchain across manufacturing and finance, emphasizing precision and efficiency. Japan’s strong regulatory framework supports secure blockchain transactions, driving innovation in finance, supply chain management, and healthcare

 

Dubai Customs' new platform reflects a broader trend of adopting blockchain technology. It aims to optimize operations improve transparency and secure data. This innovation is set to transform not only Dubai's entrepreneurial sector but also overall commercial landscape. It reinforces Dubai's position as a leading pro-technology market.

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