Blockchain Technology Is Used For Recycling In UAE
A blockchain platform for issuing permissions for rubbish disposal and reprocessing will start operation in Sharjah (UAE), the Emirates News Agency reports.
Work on the creation of the blockchain platform is conducted by Bee’ah, a company dealing with environmental issues, processing and recycling, together with the Hamriyah Free Zone Authority (HFZA).
The platform based on blockchain technology will be used in Sharjah for the first time. It will inspect, process, store transactions and become part of a dozen and a half services that Bee’ah will provide to the HFZA within a partnership aimed at various environmental solutions.
With the platform launch, customers' expenses will be significantly reduced, as will the time for issuing permits by the HFZA – from a couple of days to a few hours. Operations will be completely safe, they will eliminate any bugs in the work and the likelihood of exposure to intruders.
Blockchain technology will not just ensure continuous operation but will also enhance confidence in the relations between operators and clients, Bee’ah executive director Khaled Al-Huraimel states. The created model can be easily introduced in the country's other economic zones, it will help to develop business, spread digital innovative solutions, and improve the quality of customer service, the head of the company added.
The UAE has recently positioned itself as a country where the sphere of cryptocurrencies and blockchain is supported by the authorities among the countries of the Middle East. In December 2018, the UAE Exchange began working with Ripple to develop a system for international transfers on blockchain.
As previously reported, the UAE, together with Saudi Arabia, will begin implementing a project to create cryptocurrency for cross-border payments.