Abu Dhabi Ports subsidiary runs Silsal pilot with Port of Antwerp

Recent World Economic Forum/Bain and Company research shows that distributed ledger technology could boost trade by more than $1 trillion in the next 10 years, by dismantling financing barriers for SMEs and emerging markets

Abu Dhabi Ports subsidiary Maqta Gateway is working on a blockchain pilot in partnership with Belgium’s Port of Antwerp.

In June, Maqta Gateway became the first local entity in Abu Dhabi to develop and launch its own blockchain project. Silsal uses the technology to allow companies to record and extract transaction details with greater security, transparency and efficiency.

The project has been rolled out in several operational phases and will now be offered to freight forwarders and their customers, and subsequently to all other supply chain participants as a complementary tool to the Maqta Port Community System.

As part of the pilot project, Maqta Gateway will use Silsal to run a Proof of Concept test with the Port of Antwerp for handling international trade documentation. The capabilities of blockchain technology to exchange, identify and acknowledge cargo documents and certificates between Abu Dhabi Ports and the Port of Antwerp will be trialled during Q4 2018.

Captain Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports, says: “This is an important moment for us as we prepare to implement the first applied blockchain solution of its kind between Abu Dhabi and the world. Our technology experts at Maqta Gateway are working with world-class international partners, such as the Port of Antwerp, to deliver fast, reliable, and secure trade transactions through rigorous development and testing programmes.”

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