Maqta Gateway Becomes Abu Dhabi’s First to Deploy Its Blockchain Solution
Maqta Gateway LLC, an entirely owned subsidiary of Abu Dhabi Ports, has become the first organisation to install its own blockchain solution. Maqta Gateway has developed and launched a blockchain based technology called Silsal, that intends to enhance proficiency in the shipping and logistics industry.
What is Maqta Gateway?
Established in 2016, Maqta Gateway LLC is a wholly owned subsidiary of Abu Dhabi Ports and is a central pillar of the company’s strategy to be a leader in the development of integrated, digital, global trade. Maqta Gateway is the developer and operator of the first Port Community System in the United Arab Emirates; Maqta PCS (mPCS), facilitating the exchange of goods and the movement of people and contributing to the sustainable development of Abu Dhabi.
The Maqta Port Community System is Abu Dhabi Ports’ innovative online community-based system. Maqta Port Community System (mPCS) standardizes and secure all the information exchange among port stakeholders, customers and governmental authority entities; providing a single window to all port services with system-to-system integration. With real-time information and service accessibility on all digital platforms, mPCS accelerates business development and trade in the Emirate.
More about Silsal
As indicated by Construction Business News, Silsal will at first be accessible to freight forwarders and their clients, with the new framework being rolled out to “the rest of the trade community as a complementary tool to the existing mPCS (Maqta’s Port Community System).”
Utilizing an internal blockchain, Abu Dhabi Ports aspires to diminish paperwork, accelerate information exchange and facilitate real-time status updates
Silsal was developed in the Digital Innovation Lab of Maqta Gateway and has been field tested with key clients of Abu Dhabi Ports. Dr Noura Al Dhaheri, CEO of Maqta Gateway said:
“Blockchain is a key step in the digitalisation of trade.”
Additionally, Maqta Gateway has made its own framework for digital identity that can encrypt a wide range of transportation documents. Dr. Noura Al Dhaheri says ” This will eliminate the need for access through passwords which can often be a security risk.”
The logistics and shipping industry remains profoundly intrigued in developing blockchain solutions, with the World Economic Forum assessing that the technology could spare 20% of the aggregate expenses of physical transportation worldwide and FedEx CEO calling it the “next frontier” for worldwide supply chains.
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