Today’s announcement marks the latest milestone for “Silsal” project, which is considered to be the first Blockchain-based solution to be developed locally by an Abu Dhabi local entity. The innovative solution provides a seamless and secure link between stakeholders across the trade community using the electronic ledger system.
As part of a Memorandum of Understanding signed between Maqta Gateway and the Port of Antwerp to exchange experiences and promote collaborative innovation, the two parties will test this advanced project. The latest test of the Silsal project will play a vital role in supporting companies 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.
Commenting on Silsal’s first international project, Captain Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports, said:
“This is an important moment for us as we prepare to implement the first applied blockchain solution of its kind between Abu Dhabi and the world. Our technology experts at Maqta Gateway are working with world-class international partners, such as the Port of Antwerp, to deliver fast, reliable, and secure trade transactions through rigorous development and testing programs.”
Blockchain technology 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.