Scott Nicholas
IBM has teamed up with six Dubai-based public and private organizations in an effort to advance the country’s government blockchain strategy.
IBM said Monday it will collaborate with Dubai’s customs and trade agencies as well as with Emirates NBD, du, Aramex, and Banco Santader to assess the potential use of blockchain technology in trade finance and logistics systems designed for the import and re-export process of goods in Dubai.
The blockchain system will use Hyperledger Fabric and the IBM Cloud to disseminate shipment data and provide stakeholders with real-time information on the state of goods and shipment statuses.
“Dubai is at the forefront of adopting this transformative technology as government agencies and businesses realize the need to have a shared secured ledger that establishes accountability and transparency while streamlining business processes,” said Amr Refaat, general manager of IBM’s operations in the Middle East and Pakistan.
Refaat added the partnership seeks to demonstrate blockchain’s capacity to change how businesses engage with customers, suppliers and other businesses.
IBM is a member of the Dubai Museum of Future Foundation that created a global council with the goal to help accelerate adoption of blockchain technology.
The Dubai government aims to process all transactions via a blockchain by 2020.
