Trade flow and supply chains are where blockchain technology can really flourish. It can help track any shipment from the manufacturer all the way to the final user. And seeing various ports around the world adopting the technology seems natural. The only question is – why only now?
In the latest implementation of the blockchain technology, Abu Dhabi Ports has partnered with the Port of Antwerp to create the first international blockchain pilot testing project.
The “Sisal” project aims to use blockchain to streamline supply chains and trade flow while providing a full cargo visibility.
“We realized early on that blockchain technology can provide the very things necessary for reliability and integrity in the increasingly complex global supply chain. Silsal’s first international step today, working with the Port of Antwerp, is a manifestation of Abu Dhabi Ports’ commitment to secure Abu Dhabi’s global standing as a premier logistics, transport, and trade hub, and support the Abu Dhabi Economic Vision 2030.” – explained Dr Noura Al Dhaheri, CEO of Maqta Gateway (an Abu Dhabi Ports’ subsidiary).
Blockchain can seriously reduce the cost and time while improving the quality and integrity of international shipping. Multiple other industries already utilise the technology. Blockchain helps to track tantalum and even assists the cannabis industry – to name a few.
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