Maqta Gateway, a subsidiary of the Abu Dhabi Ports, has announced its own blockchain technology, dubbed ‘Silsal,’ WAM reported.

By combining blockchain technology and unique digital user identities, the new platform will provide a seamless and secure link between stakeholders across the trade community. With this, Maqta Gateway has become the first Abu Dhabi entity to develop and launch its proprietary blockchain technology.

"Through Silsal, we will be offering the trade community secure and integrated access to blockchain technology, with the added value of cost and time savings through real-time track and trace, reduction in paperwork and ease in extracting vital information to receive live updates,” Dr. Noura Al Dhaheri, CEO of Maqta Gateway, said. “Not only have we introduced our own blockchain offering, but we have also invented our own form of digital identity. This will eliminate the need for access through passwords, which can often be a security risk."

The objective behind the new solution was to address the gap in the market for exporters and importers, provide easy public access to transaction status updates, reduce the need for paperwork, calls and physical visits, and to expedite the exchange of information.

The technology will be initially rolled out to freight forwarders and their customers and gradually to the rest of the trade community as a complementary tool to the existing Maqta’s Port Community System (mPCS).