A blockchain-based waste permit portal will be launched in Sharjah, United Arab Emirates (UAE). This news comes by way of a report by Emirates News Agency (WAM), the country’s official news agency, earlier today.
The portal will be developed as a joint effort by recycling and waste management company Bee’ah and the Hamriyah Free Zone Authority (HFZA), the free trade zone of the city of Sharjah. According to the report, the portal will save customers in Sharjah time and money when they are applying for permits, as well as reduce the time it takes for permits to be issued from days to just a few hours. Additionally, the report notes that “all transactions are completely secured, essentially eliminating any human error or fraud.”
Said Bee’ah CEO Khaled Al Huraimel:
“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.”Last December, it was reported that the UAE was interested in becoming a leading destination for blockchain-based companies, according to some experts. Originally reported by The National, the story suggests that apart from smaller jurisdictions like Malta and Gibraltar, larger capital markets are still trying to find their footing when it comes to regulating the cryptocurrency space. However, the UAE has been positioning itself to become a leader in the space, mainly by implementing progressive and favorable legislation surrounding ICOs. This will, according to experts, draw a number of cryptocurrency companies and tokenized startups to the country.