On July 1, the Dubai Chamber of Commerce and Industry announced that they had signed a memorandum of understanding with the International Chamber of Commerce (ICC) and Perlin, making the Dubai agency the first Chamber of Commerce on earth to offer the blockchain solutions offered by ICC and Perlin to organizations and government agencies within the region. This is a big boon for ICC and Perlin, which add the Dubai agency to their Centre of Future Trades (CoFT) group of members and regional partners.
Under the terms of the memorandum, the Dubai chamber will have the exclusive rights to be able to provide the CoFT blockchain trade solutions to all businesses in the Middle East and the Africa regions. This agreement will help to support the Dubai chamber’s Digital Silk Platform, which will put the Dubai 10X initiative in exclusive company with just a handful of other organizations providing such innovative blockchain technology solutions. They join Singapore, Hong Kong, and Rotterdam in offering such solutions.
What the use of this platform offers is solutions for companies that can help to improve trade processes, reduce risks, and provide better tracking of supply chains. That the Dubai agency has received exclusive rights to these two regions should help to bolster their own reputation as well as give them a revolutionary solution that creates the opportunity for earning a large amount of revenue
“Dubai Chamber is proud to be the first chamber in the world to adopt and offer state-of-the-art blockchain solutions that simplify trade, improve ease of doing business and enhance economic competitiveness. This technology introduces plenty of far-reaching benefits for our members and regional partners, while it also has the potential to revolutionize the global trade landscape,” H.E. Buamim, President & CEO of Dubai Chamber of Commerce and Industry, explained in a statement.
Dubai has quickly become a leader in the use and application of blockchain technology. The Smart Dubai initiative has helped them develop innovative solutions to help promote and increase the efficiency of such industries as real estate and land management. They have sought means to improve their own place in the technology world, while also creating real-world solutions that matter.
By being able to offer this new platform to countries across the region, to buy will have innovative solutions that will draw businesses, organizations, and government entities to the Chamber of Commerce.
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