Du, DAFZA to launch UAE’s first blockchain-based NoC
The telecom major du has partnered Dubai Airport Free Zone Authority (DAFZA) to bring together licensing processes for activities that require a no-objection certificate from other government agencies on a single blockchain-based platform. The partnership will use UAE''s first locally hosted blockchain service, Blockchain Edge.
Dubai expects to reduce government procedures for doing business by 30 per cent and which will be implemented within the next three months. The new solution provides many advantages for DAFZA-licensed companies, including speeding up issuance of new licenses or adding commercial activities restricted by the no-objection certificate from other government agencies.
It will facilitate the exchange of information between government entities and support businesses seeking to expand beyond their existing remit by using blockchain technology, while maintaining a high level of security through encryption.
Dr. Mohammed Al Zarooni, Director-General of DAFZA, said: "This new technology movement will generate a wave of economic opportunities and digital innovation, which will enhance the business community''s confidence and reliability in digital transactions. And increase the competitiveness of Dubai in the smart global economy.
This association will drive multiple benefits for DAFZA, including enhanced cost savings as opposed to traditional non-blockchain software solutions, improved flexibility through hybrid architecture, and a better customer experience.
Source: Gulf News