WEF blockchain project toolkit helps shape UAE, Saudi supply-chain apps

The World Economic Forum (WEF) worked with more than 100 organisations to create a toolkit to help guide enterprises and CIOs managing blockchain application projects.

abstract blockchain representation of blocks and nodes
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The world's largest oil company, Saudi Aramco, and the Abu Dhabi Digital Authority (ADDA) have something in common: both organisations used WEF's new toolkit to implement blockchain projects across their operations.

Organisations are pivoting quickly to put emerging technologies into place during the COVID-19 crisis, which has highlighted the need for both speed and clarity in implementations.

Though blockchain is often equated with cryptocurrencies, it is essentially a programming architecture for distributed networks that makes use of cryptography to securely host applications -- including smart contracts -- as well as store data and execute transactions.

ADDA, which oversees digital transformation in UAE's largest emirate, has been developing a blockchain platform to support a secure 'data marketplace,' or information exchange, between Abu Dhabi government entities and other external organisations. But they faced challenges developing a full set of guidelines for blockchain technology, mainly due to the absence of clear best practices that could be used as benchmarks.

The government agency identified the data marketplace as a clear use case for the toolkit and tested it with the Centre for the Fourth Industrial Revolution UAE (C4IR UAE) -- a collaboration between the WEF and the Dubai Future Foundation -- applying the questions formulated by the WEF to drive the development of ADDA's own guidelines and implementation strategy.

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