Blockchain Trade Pilot the Focal Point Between Belgium Ports And Abu Dhabi

2018-10-17 22:44

Belgium Ports And Abu Dhabi Collaborate On Blockchain Trade Pilot

Belgium’s Port of Antwerp has started a collaboration with Abu Dhabi Ports for a blockchain pilot aimed to make international trade easier. The trial will be conducted by Maqta Gateway, which will use its own blockchain platform called Silsal. The platform was originally launched in June and it aims to solve inefficiencies in shipping.

The trial has the goal of helping companies handle trade documentation between two countries: the United Arab Emirates and Belgium. This way, it can be used to provide full cargo visibility and to streamline the complex process of supply chains and trade flows.

One of the reasons why this pilot is being tested is because it wants to discover the best way to scale up blockchain systems in the world trade via sea as well as to lower the costs of integration. The pilot will be ended at the end of 2018 and will have its results.

The CEO of Abu Dhabi Ports, Mohamed Juma Al Shamisi, has affirmed, via the press release of the company, that the moment is very important for the company and the world. According to him, this can be a way to provide a great service that can be reliable, fast to deliver and secure to trade worldwide.

There Is A Wave Of Blockchain In The Logistics World

Many other companies are currently making efforts to use the blockchain for logistics. The Hyperledger blockchain consortium, for instance, is focused on the process. Giants like FedEx and IBM (together with Maersk, one of the main global shipping companies of the world) are already starting projects in the area.

A startup called SUKU is also on the board for using the blockchain technology for supply chains build on top of the Ethereum network. Some companies in China, Australia and Europe are also reported to be investing in the technology.

In the near future, possibly a lot of companies will be using the technology to make their services cheaper and more easy to use. Looks like the blockchain is here to stay in the logistics industry.

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