Yesterday the Dubai Chamber of Commerce
announced it has partnered with the International Chamber of Commerce (ICC) and blockchain startup Perlin to offer trade finance solutions. The ICC and Perlin announced their
ICC Blockchain/DLT Alliance earlier this year, and Dubai is the first Chamber to join.
The ICC is the umbrella organization for the Chambers of Commerce in 130 countries, including Dubai’s in the UAE. The role of the ICC is mostly to set standards and facilitate trade, while also managing disputes which cannot be resolved at the local level. As the Chambers of Commerce within the organization account for 45 million businesses, the ICC is crucial for managing global trade.
This is why the ICC and its members adopting blockchain could be a massive disruption to the market. The ICC Blockchain/DLT Alliance aims to use the technology in trade processes, supply chains, and risk management.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
