A waste permit portal based on blockchain is due to be launched in the city of Sharjah, UAE. As per reports on Feb 17, this is the first of its kind state-of-the-art platform.
Further, Hamriyah Free Zone Authority and Bee’ah, a leading environmental and waste management company in Sharjah will jointly develop the blockchain based portal. The platform will use blockchain technology for validating, processing and storing transactions.
Blockchain Based Portal Benefits
The waste permit portal will be a cost efficient platform for customers to apply for permits within HFZA. Also, the permit issuing time of several days will be significantly reduced to a few hours. Furthermore, the transactions will be free of human error or fraud, thereby enhancing security.
Group CEO of Bee’ah, Khaled Al Huraimel, expressed his views on the platform and said,
“In support of the digital revolution in the UAE, we are proud to launch Sharjah’s first blockchain platform. Bee’ah’s journey in engineering these powerful tools for our customers and collaborators, like the HFZA, is paving the way for better solutions, whose rewards are even more pronounced in serving businesses and society. Using proven state-of-the-art technology will not only facilitate seamless operations, but also increase trust between customers and operators, and reduce valuable time and resources.”
The initiative will provide HFZA with integrated, accessible and environmentally conscious solutions. Further, integrating the model with other economic zones in the UAE will foster business growth, customer satisfaction and digital innovation.
UAE and Saudi Arabia on Blockchain
In December 2018, Central Bank of UAE collaborated with Saudi Arabian Monetary Authority, as per a report. The collaboration was to issue a cryptocurrency to enable cross border transactions between both countries. As a matter of fact, six commercial banks have joined the project in February 2019.
Also, experts suggest that the UAE is attempting to become a leading destination for blockchain based business by 2019. The news broke out in December last year as a result of crypto related legislation in United Arab Emirates.