Maqta Gateway, a subsidiary of Abu Dhabi Ports, has developed a blockchain technology called Silsal to provide a seamless and secure link between stakeholders in the trade community.
According to Abu Dhabi Ports, Silsal was conceived to address the gap in the market for exporters and importers, to provide easy and public access to transaction status updates, reduce the need for paperwork, calls and physical visits as well as to speed up information exchange overall.
Initially, the technology will be offered to freight forwarders and their customers, and subsequently extended to the rest of the trade community as a complementary tool to the Maqta’s existing port community system.
“Our leadership has always been a great supporter of Abu Dhabi Ports and has shown great keenness in continuously encouraging institutions and individuals to take the initiative to contribute to the country’s economic and social development and build a diversified and sustainable economy based on innovation. We are delighted to announce the launch of the first home-grown blockchain technology in Abu Dhabi through Silsal service, which was developed using local resources and capabilities to provide advanced services to all users,” commented Captain Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports.