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

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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