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Abu Dhabi Ports launches blockchain technology for trade community

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June 03, 2018

In addition, the use of blockchain in the shipping and trade industry will enable real-time tracking of its cargo and documents, time savings and smoothening of shipments between countries and continents.

This project was developed internally in the Digital Innovation Lab without external partners, and has been field tested with Abu Dhabi Ports’ strategic customers.

Captain Mohamed Juma Al Shamisi, CEO Abu Dhabi Ports, commented on the occasion, saying: “Our leadership has always been a great supporter of Abu Dhabi Ports and has shown great keenness in continuously encouraging institutions and individuals to take the initiative to contribute to the country’s economic and social development and build a diversified and sustainable economy based on innovation. We are delighted to announce the launch of the first home-grown blockchain technology in Abu Dhabi through Silsal service, which was developed using local resources and capabilities to provide advanced services to all users.”

“At Abu Dhabi Ports we strive to invest in cutting-edge technological innovations that not only bring immense benefits to the trade community but also play a role in the transformation of the UAE to a knowledge-based, competitive economy. This achievement will help to further augment Abu Dhabi’s position as a centre for innovation in logistics and trade.” He added.

Dr. Noura Al Dhaheri, CEO of Maqta Gateway, said: “Technology is a crucial driver for the future of the shipping, logistics and trade industry and blockchain is a key step in the digitalization of trade. Through Silsal we will be offering the trade community secure and integrated access to blockchain technology, with the added value of cost and time savings through real-time track and trace, reduction in paperwork and ease in extracting vital information to receive live updates.”

“Not only have we introduced our own blockchain offering, but we have also invented our own form of digital identity. This will eliminate the need for access through passwords which can often be a security risk.”

As a result of the in-house developed digital identity, Maqta Gateway will be able to encrypt all transport documentation, including but not limited to the Bill of Lading, Delivery Oder, Booking and Transport Orders, etc., thus improving the communication flow and the efficiency of the physical movement of the goods, through a transparent, secure and easy to use process.

Maqta Gateway, inaugurated in October 2017, is a transformational project that has set out to re-define Abu Dhabi’s trade services, processes and information exchange through a unified interface that connects various trade customers, including shipping agents, traders, custom brokers, freight forwarders and clearing agents, with entities integrated within the system locally and internationally.