{"id":24659,"date":"2024-07-09T14:00:57","date_gmt":"2024-07-09T11:00:57","guid":{"rendered":"https:\/\/coinengineer.io\/?p=24659"},"modified":"2024-07-09T10:28:10","modified_gmt":"2024-07-09T07:28:10","slug":"dubai-customs-introduces-blockchain-for-smarter-trade","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/dubai-customs-introduces-blockchain-for-smarter-trade\/","title":{"rendered":"Dubai Customs Introduces Blockchain for Smarter Trade"},"content":{"rendered":"<p>Aimed at easing up supply chain friction both inside <strong>Dubai<\/strong> and across its borders, <strong>Dubai Customs<\/strong> has revealed the introduction of a new blockchain platform.<\/p>\n<p>Launched as part of a larger plan to solidify <strong>Dubai&#8217;s<\/strong> ranking as a top &#8220;smart&#8221; city, the blockchain solution was presented by the <strong>Dubai Media Office<\/strong> in a July 8 statement.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/dubai-customs-introduces-blockchain-for-smarter-trade\/#Vision_for_a_Global_Trade_Hub\" title=\"Vision for a Global Trade Hub\">Vision for a Global Trade Hub<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/dubai-customs-introduces-blockchain-for-smarter-trade\/#Enhancing_Transparency_and_Efficiency\" title=\"Enhancing Transparency and Efficiency\">Enhancing Transparency and Efficiency<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/dubai-customs-introduces-blockchain-for-smarter-trade\/#Challenges_to_Mass_Adoption\" title=\"Challenges to Mass Adoption\">Challenges to Mass Adoption<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Vision_for_a_Global_Trade_Hub\"><\/span>Vision for a Global Trade Hub<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Chairman of the Ports, Customs, and Free Zone Corporation Ahmed bin Sulayem remarked, &#8220;<em>This innovation reflects our vision to make <strong>Dubai<\/strong> a global hub for trade and logistics<\/em>.&#8221;<\/p>\n<p><em>&#8220;We think that implementing contemporary technologies such as blockchain will help to greatly improve the business environment and strengthen <strong>Dubai&#8217;s<\/strong> position as a main hub for world trade.&#8221;<\/em><\/p>\n<p>Bin Sulayem pointed out that by streamlining several processes to hasten customs clearance and business transactions, blockchain technology seeks to cut time and effort.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Enhancing_Transparency_and_Efficiency\"><\/span>Enhancing Transparency and Efficiency<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>By enabling tamper-proof data sharing and thereby lowering the enormous documentation usually needed in these procedures, it will help improve supply chain transparency.<\/p>\n<p><em>&#8220;The aim is to make the business environment in <strong>Dubai<\/strong> smoother, more streamlined, and transparent,&#8221;<\/em> stated Director General of <strong>Dubai Customs<\/strong>, Dr. Abdullah Busnad.<\/p>\n<p>Blockchains are long praised as a solution for monitoring the real-time flow of goods in supply chains and against fraud and counterfeiting.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Challenges_to_Mass_Adoption\"><\/span>Challenges to Mass Adoption<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Academics in 2022 countered that mass adoption still faces challenges. November 2022 saw the axing of one exciting blockchain supply chain platform from computer maker IBM.<\/p>\n<p>IBM and its partner, Danish logistics company Maersk, attributed their decision to stop TradesLens to a lack of &#8220;global industry collaboration.&#8221;<\/p>\n<p>Since its 2016 introduction, VeChain\u2014a smart contract-compatible blockchain used for supply-chain tracking\u2014has been active in the field. Since its 2019 introduction, Chainlink has been applied to supply-chain automation. Globally Shipping Business Network (GSBN), situated in Hong Kong, has also grown to be rather active in the blockchain supply chain domain.<\/p>\n<p>Since its 2016 introduction, VeChain\u2014a smart contract-compatible blockchain used for supply-chain tracking\u2014has been active in the field. Since its 2019 introduction, Chainlink has been applied to supply-chain automation. Globally Shipping Business Network (GSBN), situated in Hong Kong, has also grown to be rather active in the blockchain supply chain domain.<\/p>\n<p>In January 2020, <strong>Dubai<\/strong> consumers also started a blockchain-based platform meant to enable international e-commerce.<\/p>\n<p><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our <a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram,\u00a0<\/strong><\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/strong><\/a>,\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">news<\/a> and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Aimed at easing up supply chain friction both inside Dubai and across its borders, Dubai Customs has revealed the introduction of a new blockchain platform. Launched as part of a larger plan to solidify Dubai&#8217;s ranking as a top &#8220;smart&#8221; city, the blockchain solution was presented by the Dubai Media Office in a July 8<\/p>\n","protected":false},"author":6,"featured_media":24661,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[2264,7270],"class_list":["post-24659","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-dubai","tag-dubai-customs"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dubai Customs Introduces Blockchain for Smarter Trade - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/dubai-customs-introduces-blockchain-for-smarter-trade\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dubai Customs Introduces Blockchain for Smarter Trade - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Aimed at easing up supply chain friction both inside Dubai and across its borders, Dubai Customs has revealed the introduction of a new blockchain platform. 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