The Digital Silk Road initiative, currently being developed by Dubai Chamber in cooperation with DP World and Dubai Customs along with Emirates NBD, is expected to go live in 2020.
Tuesday 15, October 2019 BY MUZORIWA KUDAKWASHE
Dubai Chamber of Commerce and Industry has signed an MoU with Emirates NBD, under which the bank will provide trade finance solutions for the Digital Silk Road using blockchain technology to digitise and simplify trade processes.
The smart platform aims to improve the transparency and efficiency of supply chains through a comprehensive automation process.
HE Hamad Buamim, the President & CEO of Dubai Chamber described the agreement with Emirates NBD as a major step forward for the Digital Silk Road which is designed to streamline procedures, remove trade barriers and improve ease of doing business in Dubai.
Digital Silk Road platform supports Dubai Chamber’s efforts to diversify the economy, stimulate economic growth and boost foreign direct investment.