Maqta Gateway, a subsidiary of Abu Dhabi Ports, has launched Silsal, its own blockchain technology solution. The aim is to provide seamless and secure communication links within the local trade community.
According to Maqta Gateway, Silsal has been developed to meet a gap in the market for exporters and importers, providing easy and public access to transaction status updates, reduce the need for paperwork and speed up the flow of information generally. Initially the technology will be offered to freight forwarders and their customers as a complementary tool to the existing mPCS port community system from Maqta Gateway.
Silsal was developed in-house, using the Digital Innovation Lab, and has been field tested with a number of Abu Dhabi Ports’ customers. Dr. Noura Al Dhaheri, chief executive of Maqta Gateway, says, “Through Silsal we will be offering the trade community secure and integrated access to blockchain technology, with them added value of cost and time savings through real-time track and trace, a reduction in paperwork and ease in extracting vital information to relieve live updates. Not only have we introduced our own block chain offering, but we have also invented our own form of digital identity that will eliminate the need for access through passwords, which can often be a security risk.”
As a result of the new digital identity, Maqta Gateway will be able to encrypt all transport documentation, including Bills of Lading, delivery orders, booking orders and transport orders, among others. This is expected to improve the flow of communications across the supply chain as well as the efficiency of the physical movement of goods.