The Arab Brazilian Chamber of Commerce implements Ellos Blockchain platform
The Arab Brazilian Chamber of Commerce has launched Ellos Blockchain platform during the Economic Forum Brazil and Arab countries. The aim of the blockchain platform is to revolutionize the business transactions between Brazil and the Arab countries. The Ellos Blockchain is a chain of records of commercial, banking, trade and export transactions, ABCC Information Technology manager Marcos Bulgarelli said. ‘It is like a database of recorded transactions, a virtual ledger, each information generates a record line that is replicated in several servers across the world, thus assuring security and preventing frauds.
A cooperation agreement was signed between the ABCC and participating companies. The companies included the Brazilian Animal Association Protein (ABPA), with its president Ricardo Santin; Brazilian Beef Exporters Association (ABIEC), with president Antonio Camardelli; Fambras Halal, with president Mohamed Zoghbi; certifier Cdial Halal, with president Ali Saif; and logistics operator Maersk, with platform Tradelens represented by its commercial manager Nicolas Buhmann.
Jordan is part of the agreement, and the blockchain platform will start operating there.
ABCC secretary-general Tamer Mansour stated, ” ABCC signed a partnership with Jordan a year ago to start the certification process digitally.” He added, ” Since then we started working deligently to ensure security. If the pandemic brought something good, it was this reduction of bureaucracy and fast-tracking documents digitally. That’s when we finished our blockchain system and created a full platform.”
Mansour said that the system serves two purposes. ‘ the first is enhanced cooperation between members who can schedule B2B meetings, use online schedules, virtually showcase products, etc. Mansour adds, ” But when we talk about Blockchain, it’s something else entirely. The second phase is assuring the Arab consumer that everything they buy from Brazil is transparent, high-quality, and halal-certified, if needed.”
According to Ricardo Santin, Brazilian Beef Exporters Association (ABIEC), said that this is an opportunity to increase and establish their partnership with the ABCC and others. ‘We exported over 1.1 million tonnes to the Arab world year-to-date through September, almost USD 2 billion, something around 44,000 poultry trucks worth. Now we reinforce it, moving on to the Blockchain with a higher security in our relations and strengthening our partnership with the Arab countries.” .