Blockchain solution is adopted by Maqta Gateway LLC, an entirely acquired subsidiary of Abu Dhabi Ports
. This launch of domestic solution based on blockchain technology for logistics has become the first instance in Abu Dhabi
. On 2nd June, Construction Business News has reported this declaration . Previously BCFocus reported another instance of blockchain
technology where DAWA app
wins Abu Dhabi International Hackathon
The blockchain technology launched by Maqta Gateway is known as Silsal. Development of this technology helps to make the logistics and shipping industry function more effectively.
Construction Business News has reported that freight forwarders along with their customers would be the first to access Silsal. It is said that the newly launched technology would be available to “the rest of the trade community as a complementary tool to the existing mPCS (Maqta’s Port Community System).”
Abu Dhabi Ports plans in the reduction of paperwork, status updates in real time basis and accelerated exchange of information. The use of internal blockchain helps to achieve these aims . In Maqta Gateway’s Digital Innovation Lab, Silsal was internally developed. As per the reports, the strategic customers associated with Abu Dhabi Ports initiated the field tests. According to Dr. Noura Al Dhaheri, Maqta Gateway CEO stated, “Blockchain is a key step in the digitalisation of trade.”
Besides this technology, Maqta has also developed their domestic system to facilitate digital identification. This assists in the encryption of all categories of documents dealing with transportation. CEO of Maqta Gateway commented, “This will eliminate the need for access through passwords which can often be a security risk.”
The World Economic Forum has provided an estimation of the technology. It has the potential to save at least 20% of the total costs involved in global transportation. Eventually, the shipping and logistics industry has expressed its inclination towards the development of blockchain technology. The CEO of FedEx terms it as the “next frontier” for supply chains operating worldwide.
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