Waste Management Firm Launches New Blockchain-Powered Platform in the UAE
The city located in the United Arab Emirates, Sharjah, will now have a new blockchain-powered wast permit portal. The information was released by the Emirates News Agency (WAM) and reported on February 17.
The new project will be joined by several companies. Indeed, Bee’ah, a recycling and waste management company and the Hamriyah Free Zone Authority (HFZA) will be working together in this portal. They will be operating in the city of Sharjah’s free trade zone. This is the first platform that uses blockchain technology that it is used in the city to process and store transactions.
The report says that the platform will be reducing costs for customers and applying for permits within HFZA. Moreover, they will reduce the permit-issuing time from days to just a few hours. Furthermore, the transactions are secured and eliminate human error.
The CEO of Bee’ah, Khaled Al Huraimel, explains that the technology will not only facilitate seamless operations but it will also increase the trust that exists between customers and operators.
The United Arab Emirates is a country that is working with blockchain technology in many different fields. There are different companies using distributed ledger technology (DLT) and cities trying to leverage the technology.
For example, Dubai is working on a plan to implement blockchain technology in different areas of the city to make it more efficient and automatized. The initiative is known as Smart Dubai and it will help achieve the vision of H.H. Sheikh Mohammed bin Rashid Al Maktoum.
Ripple, one of the most popular cryptocurrency companies in the market, is already working with the National Bank of Abu Dhabi. With this integration, the bank became the first financial institution in the Middle East and North Africa to introduce real-time, cross-border payments on the blockchain.
Other firms working with DLT are Microsoft, IBM and JP Morgan and Facebook among others. All of these companies have different strategies and plans for the future and the implementation of blockchain tech.