Abu Dhabi And Belgium Ports Have Partnered On A Pilot Blockchain Trading Project

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Abu Dhabi And Belgium Ports Have Partnered On A Pilot Blockchain Trading Project

Abu Dhabi Ports is working with a Belgian colleague to launch a pilot supply chain project on the blockchain, the company said in a press release.

Silsal, the so-called project, uses the electronic Blockchain ledger system to ensure full visibility of cargo and optimize trade flows and supply chains. If successful, the Silsal project plans to automate the exchange, identification and confirmation of cargo documents between the ports of Abu Dhabi and the Belgian port of Antwerp. Each stakeholder acts as a blockchain node that accesses and validates the supply chain in real time of the shipped goods.

In a pilot project to be conducted during the fourth quarter of this year, the Silsal project will conduct a proof-of-concept test in which It will process international documents in the port of Antwerp using blockchain technology. These documents are likely to be reviewed by all interested parties related to each other through secure communication through the e-Ledger. After confirmation, the record will be permanently stored in the block, which will remain available to network members-at any time and in any place.

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