Maqta Gateway LLC, a subsidiary of Abu Dhabi Ports, becomes the first company in Abu Dhabi to launch its very own blockchain solution. They call this solution Sisal—the blockchain solution for logistics, aiming to improve efficiency in the industry.
Construction Business News reported that Sisal will be available for freight forwarders and their customers.
Abu Dhabi Ports hopes that this blockchain solution will improve efficiency of operations by lessening paperwork, speed up communication of information, and facilitate status updates.
The solution was developed in Maqta Gateway’s Digital Innovation Lab and has already been field tested. Commenting on blockchain technology, Maqta Gateway CEO Dr. Noura Al Dhaheri said that it was a “key step” in the digitalization of trade.
Blockchain and the Logistics Industry
While this blockchain solution may be the first for Abu Dhabi, the logistics and shipping industry has already seen a number of blockchain innovations, and for good reason. The World Economic Forum estimates that blockchain tech can help save 20% of physical transportation costs worldwide.