Traders in Dubai had to register themselves with several government entities including respective Licensing Authorities, Dubai Trade, Dubai Chamber of Commerce and Industries(DCCI), Port Authorities (DP World) and Dubai Customs. Each of these entities used to view traders in silos and fragments through their respective IT Systems. As the first building block of DSR road map, Avanza unified trader’s registration and details across all entities in a seamless manner.
Using blockchain’s inherent consensus mechanism, a trader’s registration detail from their licensing authority (JAFZA -Jebel Ali Free Zone Authority) are relayed across all entities, thereby saving the trader from the hassle of time-consuming separate registrations.
On the other hand, all government entities are sure that they have uniform details and data about the trading enterprise for any import or export transaction(s).