DP World and Dubai Chamber of Commerce sign MOU for Blockchain Digital Silk Road

The Dubai Chamber of Commerce and Industry (DCCI)  last month signed a memorandum of understanding (MoU) with DP World to cooperate in Digital Silk Road project, which is expected to be launched by 2020 under Dubai 10X initiative. 

Under the MoU, both entities will create a joint team to implement the project, according to a statement. "Investing in smart services and solutions is a top priority for Dubai Chamber, and we look forward to working with our partners to develop a game-changing digital platform that will drastically improve and simplify trade processes and procedures,” president and CEO of DCCI said. 

The goals of the protocol will include facilitating global trade and setting procedures and plans to ensure a favourable business environment in the emirate of Dubai.

"Dubai 10X aims to leverage Dubai's strategic geographic location and its region-leading logistics infrastructure to position the city as a global hub of innovation and setting the bar for cities across the world." CEO and managing director of DP World, Mohammed Al Muallem, commented.

The Digital Silk Road is a smart digital platform utilizes blockchain technology to boost the transparency and efficiency of supply chains through a comprehensive automation process.