Yesterday, the Dubai Chamber of Commerce announced a partnership with state-owned bank Emirates NBD for blockchain trade finance for the Digital Silk Road initiative. The project aims to improve the transparency and efficiency of supply chains through automation.
The Dubai Chamber is running the Digital Silk Road initiative in collaboration with cargo handling services provider DP World-UAE Region, Dubai Customs and now Emirates NBD. The platform is scheduled to go live in 2020.
“Emirates NBD was the first in the region to successfully pilot a blockchain use case for trade finance and we look forward to lending our expertise and support to the Digital Silk Road initiative,” said Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD.
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