Among government’s institutions that are helping spearhead the initiative, we name Dubai Customs, the emirate’s customs office, and Dubai Trade, an electronic trade services hub. In addition, private companies are involved, including Emirates NBD and Banco Santander, Du, a UAE-based telecom, and Aramex, a shipping and logistics firm headquartered in Dubai, along with an as-yet-unnamed airline carrier.
On the tech side, the public-private initiative is utilizing IBM’s Hyperledger Fabric blockchain protocol as part of a solution aimed at harmonizing the trade finance lifecycle within a single platform. The trialled solution incorporates device-driven data collection, an element in line with Dubai’s stated intention to use blockchain as a means for developing greater IoT capabilities.
The government is a key driver of the Global Blockchain Council, a technology initiative aimed at promoting collaboration among public agencies and private companies in Dubai.
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