IBM and Maersk's TradeLens, which was formed in August last year, aimed to provide a basis for digital supply chains. Moreover, it has been put into service with approximately 100 organizations that want to take part in pilot applications.

For Saudi Arabia, this move SuVision 2030 initiative. And is part of the desire to expand the country's economy.

Saudi Customs Chief Ahmed Alhakbani:

Tir Pilot implementation will make the kingdom one of the world's leading logistics centers in line with our strategy to facilitate trade and increase security levels. The latest pilot application that links FASAH to the TradeLens platform clearly shows that we are on the right track. F

United Arab Emirates (UAE) in line with its neighbor; Riyadh has stepped up its activities to integrate block chain technology at the state level in recent months.

In December a partnership was launched to develop interbank blockchain vehicles for Islamic finance. Following this, the Kingdom announced that it joined the UAE to create a common crypto-unit for interbank transactions.

Source: cointelegraph