Seminal Blockchain Toolkit to lead supply chain recovery through COVID-19 crisis


DUBAI, 17th May, 2020 (WAM) -- In collaboration with the Centre for the Fourth Industrial Revolution UAE and the Dubai Future Foundation, DFF, the World Economic Forum has released a comprehensive blockchain toolkit to offer businesses and organisations new, industry-tested solutions to the urgent issues hindering global supply chains, which have been exposed by the COVID-19 pandemic.

The Redesigning Trust toolkit provides tools, resources, industry insights and best practices for organisations seeking ways to improve traceability, visibility, accountability and end-to-end, real-time communication.

The toolkit has been developed following a deep analysis of projects and use cases of more than 100 blockchain stakeholders from over 60 public- and private-sector entities across the world focused on supply chain logistics, including prominent work and feedback from the DFF and World Economic Forum Centre for the Fourth Industrial Revolution UAE.

"As a test-bed for technological innovations and ideas that drive transformations in vital industries, DFF’s contribution to the toolkit will benefit decision-makers, entrepreneurs and businesses in defining their future strategies," said Abdulaziz Al Jaziri, Deputy CEO and Chief Operating Officer of DFF.

Ahead of the toolkit’s release, it was tested by DFF and World Economic Forum Centre with the Abu Dhabi Digital Authority, to offer real-world feedback on its use and effectiveness, in addition to showcasing alignment with the UAE’s blockchain infrastructure development strategy. The outcomes and insights derived from the trial were shared and incorporated into the final publication.

The UAE and DFF also played crucial research roles in the formulation of the toolkit with a whitepaper penned by the World Economic Forum Centre for the Fourth Industrial Revolution UAE, entitled "Inclusive Deployment of Blockchain: Case Studies and Learnings from the UAE".

"Moving forward, there must be an emphasis on rebuilding global trade networks by learning and putting into practice the lessons emerging from this pandemic. The solutions that blockchain technology provides, outlined in the Redesigning Trust toolkit, can go a long way to future-proofing and safeguarding businesses in the recovery and adaptation to the new normal," said Mariam Al Muhairi, Project Manager World Economic Forum Centre for the Fourth Industrial Revolution UAE at DFF.

"While developing governance for emerging technologies, the exchange of knowledge and need for collaboration are key. For this reason, contributors to the forum’s blockchain deployment toolkit included a diverse group of leaders from governments, companies, start-ups, academic institutions, civil society, international organisations and experts from across the globe," said Nadia Hewett, Blockchain and Digital Currency Project Lead, World Economic Forum.

WAM/Esraa Ismail/Hazem Hussein