According to a report made by the emirates News Agency, the state’s official news agency, a waste management company in the UAE (United Arab Emirates) is planning on launching a Blockchain based waste permit portal.
Blockchain Based Waste Permit Portal To Be Launched In UAE
According to the reports, Bee’ah, an environmental recycling and waste management firm, will be working together with the HFZA (Hamriyah Free Zone Authority) in the development of the Blockchain waste permit portal. This will be the first platform to utilize Blockchain technology in the validation, processing and storage of transactions going by the reports. HFZA is the free trade zone in the Sharjah city.
Going by the report, the new Blockchain based portal will allow customers applying for permits in HFZA to get more efficient services. They will not only cut costs incurred in the process but they will also enjoy a reduction in the time taken in the processing of the permits by days. All transactions taking place on the platform will also be completely secure with the possibility of fraud and errors having been eliminated according to the statement.
The chief executive of Bee’ah Khaled Al Huraimel has stated that through the Blockchain technology the firm will be able to carry out seamless operations as well as boost the trust between its clients and operators.
Blockchain To Lead To More Efficient Processes
In his statements the firm’s CEO said that the launch of the Blockchain based portal, the first of its kind in the city, was in support of UAE’s digital revolution. Al Huraimel stated that through the utilization of this state-of-the-art technology the firm will be able to not only provide seamless services but will also save on time and resources as well as promote trust with the customers.
Al Huraimel stated that the portal is also able to be integrated with other economic zones within the country adding that it would help boost digital innovation and business as well as improve customer experience.
HFZA’s director, who also oversees the Sharjah Airport International Free Zone, Saud Salim Al Mazrouei, stated that through the digitization of processes such as permit applications the city was effectively moving towards innovation. He added that by using Blockchain technology the city will enjoy processes that are more efficient, secure and productive.
UAE A Blockchain Hub
The UAE has been seen to be continuously pursuing and promoting the adoption of Blockchain technology and digital currency. Late last year, in December, the country’s central bank announced a collaboration with the Monetary Authority of Saudi Arabia. The collaboration would see the development of a Cryptocurrency that would be used by the two nations in cross border transactions. Six commercial banks from both states have reportedly joined the project this month.
Also in December there were reports that according to experts the country was trying to position itself to be a hub for Blockchain based businesses this year. According to the reports, this was apparent with the new legislation which will create an enabling environment for Crypto and Blockchain based businesses.