When Dubai and its government agencies quickly realized that Blockchain technology might be used for a variety of other purposes, including e-commerce.
An increasing number of E-commerce models have been developed over the past several years as a result of E-rapid commerce’s growth. It’s difficult to monitor e-commerce goods from their point of origin to their final destination, which is especially problematic for returned items. Customs and regulatory authorities must be involved, and the procedure must be transparent while also being simple for e-comm transactions.
Since Dubai customs is one of the greatest customs departments in the world, they were able to construct an innovative e-commerce platform that depends only on Blockchain. Avanza Innovations, a UAE-based firm, has established this pilot project to bring Dubai closer to being a world-class e-comm center that draws foreign investment.
To put it another way, the initiative is unique since it focuses on three important aspects of the e-commerce business that might have an impact:
To begin, enormous amounts of time will be saved due to the elimination of several standard operations, one of which is the drafting of the declaration. With the optimized system in place, the rapid onboarding process, the easy clearance, and inventory reconciliation, and the easy identification and certification of e-comm enterprises will strengthen the time-effective edge.
Dubai Airport Free Zone Authority (of which Dubai CommerCity is a component), JAFZA, and Dubai South, all of which rely heavily on e-commerce and logistics, will be involved in and intertwined with the project.
There are three exciting aspects to the concept, but the third and most intriguing is that it will eventually be able to service other industries, such as logistics and courier.
A senior vice-president for operations at Dubai Commercial City, Abdulrahman Shahin, told Gulf News that the Dubai Customs Blockchain Platform will extend to logistics and courier companies, free zone customers, and e-commerce fulfillment centers as part of the city’s three-pronged e-commerce strategy, which includes B2B, C2, and blockchain solutions.
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