Dubai Free Trade Zone Wants to Bring Sugar on the Blockchain

Dubai Free Trade Zone Wants to Bring Sugar on the Blockchain

DMCC - the free zone and Government of Dubai Authority on commodities trade and enterprise - has signed a strategic membership agreement with Al Khaleej Sugar and Universa Blockchain that sees DMCC Tradeflow support the development of a new sugar trading platform in Dubai.. The DMCC Tradeflow platform will act as the central registry of ownership of the sugar through enforceable warrants to prove existence of reserves, and enable secure and transparent international trade.. The partnership will come as welcome news to investors, businesses and the international sugar trade as a whole.. We are confident that when complete, this new platform will help drive significant international sugar trade volumes through the emirate of Dubai,". And as the world leading commodity trading hub, we look forward to working with DMCC to further boost the sugar trade in Dubai,". "Establishing a new sugar platform is a perfect example of how blockchain can be used to increase efficiency and transparency on an already secure platform,". DMCC Tradeflow is an online platform that offers a secure and transparent central registry of ownership for commodities stored in Dubai..