Dubai Chamber of Commerce and Industry, in partnership with the Dubai Future Foundation, has unveiled the Digital Silk Road project, which seeks to use blockchain technology to eliminate key weaknesses in the global trading system.
The project aims to further increase the transparency of supply chains through digital transformation and comprehensive process automation, the Chamber said in a statement.
It added that the Digital Silk Road will support entrepreneurs in enhancing their innovative capabilities, accelerate business transactions, increase security and reduce trade in counterfeit goods, and provide reliable information to parties anywhere and anytime to enrich the experience of customers.
The Digital Silk Road project aims to reshape the global trading system through a secure, advanced and environmentally friendly platform using blockchain technology that helps overcome current trade barriers such as high costs, lack of transparency, diversification of legislation and lack of security in business transactions.
However, there are other startups, which deal with the same issue. Export.Online is one of such projects. Its is an innovative international trading platform, oriented initially to the needs of exporters. The main target audience of the project are companies that produce goods and services that want to enter a fundamentally new level of business and significantly expand the market for their products.
The advantages of the platform can be used not only by producers, but also by distributors, retail chains, government agencies and organizers of international exhibitions. The list of potential users also includes service companies that provide their services in the fields of logistics, transfers, customs, legal support, tax issues, expert analytics in the areas of marketing, insurance, etc.