Dubai Customs has reportedly launched a new blockchain platform designed to increase business transparency and simplify cross-border e-commerce. The move, announced on July 8, marks a major step towards the emirate’s becoming a global e-commerce hub.

The newly launched platform is part of Dubai’s wider digital transactions strategy, spearheaded by Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum.

Dubai Blockchain Platform is fully operational

During the "First UAE Customs Week 2020", the Dubai government officially launched its blockchain cross-border platform, which has been in trial operation since September 2019 and has been developed in two main phases. At present, the first phase of work has been successfully completed, focusing on enhancing the export transaction capabilities of e-commerce through express delivery services.

Subsequently, the second phase of development has been successfully completed. This phase focuses on handling e-commerce related import matters, realizing the integration of declaration processes, automated refund mechanisms, and successfully reducing related costs.

Sultan Ahmed bin Sulayem, Chairman of the Ports, Customs and Free Zone Corporation, stressed that this new blockchain strategy will bring many innovations to the regional trade and logistics industry, ensuring that all import and export activities strictly comply with government laws and regulations.

Striving to become the core of global trade and logistics

Dubai's newly launched blockchain platform is part of its ambition to become a world-class e-commerce center and a key strategy to promote non-oil trade. The platform uses blockchain technology to optimize customs processes, with the goal of reducing transaction time and costs, and simplifying the return process of goods through technology integration to improve trade efficiency.

Sultan Ahmed bin Sulayem also expressed his pride in the new platform, which he believes marks a major improvement in the efficiency of Dubai's business operations and is in line with Dubai's long-term vision of becoming a global trade and logistics hub.

In addition, the implementation of the blockchain platform will automate the customs declaration process and ensure that all parties involved have access to accurate and verified information in real time, thereby enhancing transparency and reliability of the entire supply chain.

Dubai aims to become a global trade and logistics hub

Dubai's newly launched blockchain platform is part of its ambition to become a world-class e-commerce center and a key strategy to promote non-oil trade. The platform uses blockchain technology to optimize customs processes, with the goal of reducing transaction time and costs, and simplifying the return process of goods through technology integration to improve efficiency.

Sultan Ahmed bin Sulayem expressed his pride in the new platform, which he said marked a major improvement in the efficiency of business operations in Dubai and was in line with Dubai’s long-term vision of becoming a global trade and logistics hub.

In addition, the implementation of the blockchain platform will automate the customs declaration process and ensure that all parties involved have access to accurate and verified information in real time, thereby enhancing transparency and reliability of the entire supply chain.

Advancing digital strategies and trade transparency

Dr. Abdullah Busnad, a senior official at Dubai Customs, noted that the implementation of the new blockchain platform will have significant benefits for customs operations and will facilitate collaboration with other government agencies. He mentioned that the platform will give companies the ability to monitor the flow of goods in real time, thereby enhancing the transparency of the supply chain and effectively combating fraud and counterfeit goods.

This innovative measure is in line with the goals of Dubai’s UAE Blockchain Strategy 2021, which aims to transform 50% of government transactions into blockchain technology to improve the security and efficiency of transactions.

Currently, the Dubai government is working with a number of logistics companies to test the platform, and plans to expand the scope of cooperation in the near future to attract more industry players to jointly promote the implementation and development of Dubai's digital strategy.

Conclusion:

The launch of Dubai Customs' new blockchain platform is not only a positive response to the UAE Blockchain Strategy 2021, but also a key step for Dubai to move towards digitalization and globalized trade. Through this innovative initiative, Dubai has not only improved its own business operation efficiency, but also set a new benchmark for global trade and logistics.

As the platform continues to improve and its application scope expands, it is expected to attract more industry participants to join and jointly promote Dubai to become a world-class e-commerce and logistics center. At the same time, this will also inject new impetus into the development of Dubai's non-oil trade and help Dubai achieve economic diversification and sustainable development.

Looking ahead, with the further application and innovation of blockchain technology, Dubai is expected to play a more important role on the global trade stage and lead the future development of the digital economy and global trade. #迪拜 #区块链战略 #数字经济 #全球贸易