Management of the free economic zone Dubai airport (DAFZA) announced on Saturday on the development of Dubai Blink — the world’s first commercial blockchain platform of free economic zones (FEZ).
Dubai Blink allows companies to obtain the status of resident DAFZA, interact with other businesses within it and to trade without the need for physical presence in a given area or even in the UAE. The project combines a blockchain artificial intelligence, IoT and system for digital licensing.
The main function of the platform is to stimulate trade within DAFZA. It is expected that implementation function will provide two main operational areas of Dubai Blink. First, the platform will simplify the identification of the parties and verification of data using AI. Second, Blink will eliminate transaction fees and speed up the exchange of funds and information between residents DAFZA.
Sheikh Ahmed bin Saeed al Maktoum said that Dubai Blink is part of the initiative Dubai 10x — state program of support for projects using breakthrough technologies. He added:
“Dubai Blink will be one of the most advanced models for supply chains and e-Commerce in SEZ future. It will help to stimulate trade transactions of resident companies of the free zones of Dubai.”
For the city and the Emirate, a new project means an additional investment inflow, both from international corporations and enterprises of small and average business.
DAFZA Director-General Dr Mohammed al zarooni of (Mohammed Al Zarooni) commented:
“Dubai Blink will open new ways of leveraging the assets within the free zone and will bring together the reliable vendors of goods and services, promoting your business forward. This will be an integrated platform that will allow companies to manage deliveries and transactions, backed by speed, veracity and reliability of smart contracts.”
Recall that Dubai has already moved its land registry on the blockchain by 2020 and intends to decentralize the government.
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