Why Dubai Customs Has Launched Its Own Blockchain Platform

Dubai Customs has launched a brand new blockchain platform to optimise business operations inside the area, which is more and more being seen as a pro-technology market. In an try to take care of a number of the roadblocks that hinder the entrepreneurial sector in Dubai, the customs division is exploring the usage of blockchain expertise to extend transparency and ease the method of sharing knowledge in a tamper-proof method. The blockchain platform was unveiled on Monday, and is touted to supply safe, environment friendly, financial plans, in addition to tech-driven logistics initiatives.

Sultan Ahmed bin Sulayem, Chairman of Dubai’s Ports, Customs, and Free Zone Company, has referred to as the upcoming blockchain platform a ‘quantum leap’ in bettering Dubai’s enterprise and business operations.

“We imagine that adopting fashionable applied sciences like blockchain will considerably contribute to bettering the enterprise surroundings and enhancing Dubai’s place as a significant centre for world commerce,” Sulayem mentioned in a prepared statement.

Blockchain expertise, additionally known as distributed ledger expertise, shops knowledge on a number of nodes — which prevents the focus of information on one server like conventional servers. This makes it tougher for malicious hackers to breach networks. As well as, any knowledge that’s saved on blockchain networks leaves a everlasting monitor, which brings transparency into companies.

Dubai’s authorities are additionally trying to leverage different blockchain capabilities like real-time items monitoring and curbing cases of frauds and counterfeiting.

This nonetheless, is just not the primary time, that Dubai has explored the usage of blockchain expertise. In Might, it unveiled a method geared toward making the area one of many prime ten economies nicely versed with metaverse technology.

Dubai beforehand tapped the Solana Basis in to offer the blockchain infrastructure for its free financial zone in October 2023, referred to as the Dubai Multi Commodities Centre (DMCC) to assist companies working from there to get to scale their companies.