The Dubai Chamber of Commerce and Industry has signed a memorandum of understanding (MoU) with the International Chamber of Commerce (ICC) and Perlin, making it the first chamber of commerce in the world to offer innovative blockchain solutions developed by ICC and Perlin’s Centre of Future Trade (CoFT) to its members and regional partners.
Under the terms of the MoU, Dubai Chamber has exclusive rights to provide CoFT blockchain trade solutions to businesses in the Middle East and Africa region. The solutions offer many benefits and competitive advantages to companies – including improved trade processes, reduced risks, better traceability of supply chains and enhanced competitiveness.
The cutting-edge solutions will support Dubai Chamber’s Digital Silk Road platform, a Dubai 10X initiative that puts the emirate at the forefront of trade innovation as it joins a handful of cities such as Singapore, Hong Kong and Rotterdam which are leveraging blockchain technology to advance trade systems.
Commenting on the agreement, Hamad Buamim, president & CEO of Dubai Chamber of Commerce and Industry and chairman of the ICC – World Chambers Federation (WCF) described the partnership as a major step forward in removing trade barriers, improving supply chain efficiency and boosting the participation of MSMEs in global trade, adding that these objectives remain top priorities for the WCF. “Dubai Chamber is proud to be the first chamber in the world to adopt and offer state-of-the-art blockchain solutions that simplify trade, improve ease of doing business and enhance economic competitiveness. This technology introduces plenty of far-reaching benefits for our members and regional partners, while it also has the potential to revolutionise the global trade landscape.”
“ICC is committed to helping business chambers and enterprises all over the world to access best-in-class technology in an ever-changing and dynamic landscape for global trade. With the highly respected Dubai Chamber helping to grow awareness for the pioneering technology developed by our Centre of Future Trade, we expect substantial industry adoption in their regions of influence,” adds John WH Denton, secretary-general of ICC.
“Working with ICC, Singapore Government and extremely active business organisations like the Dubai Chamber, Perlin will help enterprises integrate world-leading blockchain technology into their operations. This includes helping enterprises of all sizes – from multinationals to micro-, small- and medium-sized businesses across all industries – to better participate in the global economy,” states Dorjee Sun, CEO of Perlin.
According to a report by the United Nations, the fashion industry accountsFebruary 18, 2021 | By Shruthi Nair
The jewellery making industry has been under tremendous scrutiny over the yearsFebruary 11, 2021 | By Shruthi Nair
UAE-based Carrefour will become the first retailer in the region to offer new levels
The Organic Farmers’ Market is back in Bay Avenue for its 12th
UAE-based Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah,
Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones
UAE-based Al Maya Supermarkets is hosting a two-week food festival at select
Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the
Carrefour UAE has launched “Cookit Yourself” — a curated recipe box created
UAE-based Al Islami Foods, one of the largest frozen food companies in
Marks & Spencer’s plant-based range now offers over 25 vegan products including meat-free
World’s largest fully integrated online brand in fresh fish and meat e-commerce
Homegrown, organic and plant milk company, Koita has announced its expansion into
Tighter restrictions on hotels, restaurants, shopping malls and entertainment venues on account of
All hotels and restaurants have been directed to temporarily hold entertainment activities
The new Dubai Gold Souk is “very much on track”, according to
Gone are the days of traditional brick-and-mortar as well as purely e-commerce
The Dubai Gold & Jewellery Group’s ongoing jewellery campaign, held in association
Retail Abu Dhabi, the retail platform of the Department of Culture and
Gulf Marketing Group (GMG) is gearing up for a continued surge in
UAE-based Emaar Malls have announced the resignation of its CEO, Rajiv Suri
The Lumière Co, a new e-commerce platform, has launched to offer young
Nakheel Malls, the retail arm of master developer Nakheel, has launched its
Serena Marketplace, a new community shopping and service centre for the Mediterranean-themed