According to a report by Construction Business News this June 2nd, Maqta Gateway LLC is the name of the wholly owned subsidiary of Abu Dhabi Ports that became the first entity in the city to deploy its own blockchain solution.
The name of the technology is called Sisal, and it is an entirely blockchain-based one that aims to improve the efficiency in the shipping and logistics industry. As the report says, the technology will be initially available to freight forwarders and their customers. The new system, on the other hand, is being rolled out to “the rest of the trade community” as a complementary tool to the existing mPCS (Maqta’s Port Community System).
Aby Dhabi Ports hopes to reduce paperwork, facilitate the real-time status updates and accelerate the information exchange by using this internal blockchain. The tech was developed in the Digital Innovation Lab of the company and has so far been field tested with many strategic customers of Abu Dhabi Ports. According to the CEO of Maqta, “blockchain is a key step in the digitalization of trade”.
Aside from this blockchain system, Maqta Gateway has created their own system for digital identity which can encrypt all the types of transportation documents. According to the CEO, this system “is designed to eliminate the need for access to passwords which can often be a security risk.”
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