IBM has announced a blockchain initiative with Dubai Customs and Dubai Trade, advancing Dubai’s government blockchain strategy. As part of the initiative, IBM is also working with businesses including Emirates NBD, du, Aramex, and Banco Santander.
By collaborating with Dubai Customs, Dubai Trade and its IT provider DUTECH, IBM is to explore the use of blockchain for a trade finance and logistics solution for the import and re-export process of goods in and out of Dubai. Using Hyperledger Fabric and IBM Cloud, the blockchain solution transmits shipment data, allowing key stakeholders to receive real-time information about the state of goods and the status of the shipment. Taking the example of a shipment of fruit, stakeholders involved in the process will receive timely updates as the fruit is exported from India to Dubai by sea, and then manufactured into juice in Dubai, and then exported as juice from Dubai to Spain by air.