Abu Dhabi Ports will soon deploy its own Blockchain technology to simplify their Exports and Imports system.
Abu Dhabi Ports: Switching to Blockchain Technolgy
The subsidiary in Abu Dhabi Ports, the Gateway of Maqta will soon to deploy its own Blockchain technology. The company on working on its own Blockchain technology is called as Silsal. Silsal in Arabic means Chain. This technology is implemented for simplifying the process of removing countless paperwork, status updates and removing slow transfers of information. The Technology of Silsal will be provided to customer’s company. This technology will be provided to the traders by providing the Magta’s Port Community System (mPCS).
“Blockchain is a key step in the digitalization of trade,” said by Dr. Noura Al Dhaheri, CEO of Maqta Gateway. Abu Dhabi Ports CEO.
“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.” As said by Captain Mohammed Juma Al Shamisi.
Shipping Inductry to Simplify operations through Digital Ledger
The shipping industry is complex with many issues. Blockchain will solve any numbers of issues. Silsal will help correct these issues and work on to create a perfect system between exporters and importers and helping them with fast and streamlined transfer of information.
Big Bussinesses also going for Blockchain based technolgies
From the estimates provided by World Economic Forum, Blockchain technologies have the power to save around 20% of the total costs of transportation. Another survey revealed that 53% of shipping company executes are thinking about using Blockchain based alternatives in their shipping businesses.
FedEx also jumped on the bandwagon of Blockchain to improve its services and operations. IBM is also in works with the largest shipping corporation Maersk to boost efficient services and increse transparency with the help of Blockchain.
We are seeing this trend where the industry of shipping and logistics are in the great and exciting era of adopting new technologies like Blockchain.
What do you think about the Blockchain technology and how will it change different businesses. Give your suggestions in the comment box below.