Antwerp - United Arab Emirates Maqta Gateway, an Abu Dhabi Ports subsidiary, unveiled that it began implementing the first international blockchain pilot testing project in partnership with the Port of Antwerp in Belgium.
The project, writes Maqta Gateway in its press release, is expected to support companies in “conducting trade transactions between the UAE and Belgium, providing full cargo visibility and streamlining trade flows and supply chains. The pilot project will test the capabilities of the technology to exchange, identify and acknowledge cargo documents and certificates between Abu Dhabi Ports and the Port of Antwerp.”
Blockchain technology, so the press release, “acts as an open digital ledger that can be used by trade actors to record and extract transaction details with greater security, transparency and efficiency. First unveiled in June 2018, the Silsal project has been rolled out in several operational phases and will be offered first to freight forwarders and their customers, and subsequently offered to the rest of the trade community as a complementary tool to Maqta Port Community System.”