The Maqta Gateway in Abu Dhabi has signed a memorandum of understanding (MoU) with the Port of Antwerp to test blockchain technology to provide improved cargo visibility and streamline trade flows between the UAE and Belgium.
The collaboration is the latest milestone in the Silsal project, an initiative launched in June 2018 which saw the Maqta Gateway become the first official Abu Dhabi entity to develop a blockchain-based solution.
PTI News – Blockchain Giants Form Cross-Industry Platform
As part of the MoU, the Maqta Gateway and the Port of Antwerp will test the technology’s ability to exchange, identify and acknowledge cargo documents and certificates between the UAE and Belgium.
Learn more about the power of blockchain and why the industry is so excited about it with a Port Technology technical paper
Commenting on the project, Captain Mohamed Juma Al Shamisi, CEO of Abi Dhabi Ports, said: “This is an important moment for us as we prepare to implement the first applied blockchain solution of its kind between Abu Dhabi and the world.
PTI Insight – Blockchain: The Missing Links
“Our technology experts at Maqta Gateway are working with world-class international partners, such as the Port of Antwerp, to deliver fast, reliable, and secure trade transactions through rigorous development and testing programs.”
Erwin Verstraelen, Chief Digital Information Officer, Port of Antwerp, commented: “We once again illustrate our ambition to be an open innovation hub that introduces new technologies.
“We continue to believe that innovation and digitization are crucial for the success of trade in the long term, and therefore one of our core priorities.
“With Maqta Gateway and Abu Dhabi Ports we found a strong partner in searching for global collaboration initiatives, to come up with innovative solutions that enable safer and more efficient processes in the Port.”
Read more:
-
WEF: Blockchain Worth $1 Trillion to Global Economy
-
Why the UAE is Securing its Place in Global Trade