UAEBusiness

Dubai Customs launches blockchain platform to improve commercial transparency

Platform to simplify procedures to expedite customs clearance and commercial transactions

Dubai Customs launched its blockchain platform to improve transparency in commercial operations within Dubai and across borders, while also strengthening collaboration between government entities and logistics industries.

Sultan Ahmed bin Sulayem, Chairman of the Ports, Customs, and Free Zone Corporation, stated that the launch of the platform is part of Dubai’s blockchain strategy for digital transactions initiated by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai.

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.”

Array of benefits

Bin Sulayem emphasised that the new blockchain platform will provide numerous benefits that significantly enhance business operations. This is achieved through simplified procedures to expedite customs clearance and commercial transactions, thereby 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, thereby contributing to building more transparent and reliable business relationships. Additionally, reducing paperwork and streamlining processes leads to substantial cost savings.

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. He underscored that the platform will not only benefit Dubai Customs but also serve as a valuable tool for collaboration with other government entities, The goal is to make the business environment in Dubai smoother, more streamlined, and transparent.

Atiq Almehairi, Executive Director of Customs Development Division at Dubai Customs, emphasised 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.

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.

Source: gulfnews

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