COVID-19 response: World Economic Forum and UAE collaborate for supply chain recovery

Dubai: The World Economic Forum (WEF) has released a blockchain toolkit to offer businesses and organisations solutions to tackle issues impeding global supply chains, which have been exposed by the COVID-19 pandemic. The 'Redesigning Trust' toolkit provides resources, industry insights and best practices for organisations seeking ways to improve visibility and accountability.

It was developed through a deep analysis of projects of more than 100 blockchain stakeholders from more than 60 public- and private-sector entities focused on supply chain logistics. This included feedback from Dubai Future Foundation and World Economic Forum Centre for the Fourth Industrial Revolution UAE.

“As a test-bed for technological innovations that drive transformation in vital industries, DFF’s contribution to the toolkit will greatly benefit decision-makers, entrepreneurs and businesses in defining future strategies,” said Abdulaziz AlJaziri, Deputy CEO and Chief Operating Officer of Dubai Future Foundation.

Ahead of the toolkit release, it was trialled by DFF and World Economic Forum Centre for the Fourth Industrial Revolution UAE with the Abu Dhabi Digital Authority. This helped offer real-time feedback on its use and effectiveness, in addition to providing alignment with the UAE’s blockchain infrastructure development strategy. 

“The role blockchain technologies can play in economic recovery post the COVID-19 disruption will be critical," said Mariam Al Muhairi, Project Manager World Economic Forum Centre for the Fourth Industrial Revolution UAE at Dubai Future Foundation. "The upheaval has dislocated economies and ecosystems, and has hindered supply chains because of a lack of transparency and traceability on goods being moved around the world.”