Dr. Noura Al Dhaheri, CEO of Maqta Gateway at Abu Dhabi Ports, has told UNLOCK of the potential of blockchain to save importers millions per year.
In a wide ranging interview, Dr. Al Dhaheri said: “The World Economic Forum predicts potential savings from blockchain implementation in shipping to range from 20% of the total physical transportation costs which would amount to US$1 trillion addition to global trade.
“This figure corroborates the fact that digitalization can truly shape the future and that is something we’ve considered when trying further benefit our trade partners and shipping lines.”
Insight: What is Blockchain?
Blockchain has been heralded as a technology which can massively increase trade transactions, ensuring secure and clear data which can be used to create meaningful collaboration.
The UAE has been one key early adopter of the technology, as the race begins to become the world’s foremost advanced trading nation.
Al Dhaheri said: “The goal for UAE Blockchain Strategy 2021 is to become a world leader in adopting technology. Their strategy aims to capitalize on blockchain technology to transform 50% of government transactions into the blockchain platform by 2021.
“Maqta Gateway’s blockchain solution opens a full world of cost savings and innovative solutions for the logistic trade here in Abu Dhabi and with the growing international connections, and in this way our strategies are integrated.
“We are helping by using blockchain and other technologies to facilitate trade whenever possible through our innovative solutions.”
Read more: UPS in Global Shipping Blockchain Plan