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UAE Trade Connect

Incorporated in Dubai, United Arab Emirates, UAE Trade Connect (UTC) is a national trade finance platform which is a wholly-owned subsidiary of Etisalat Group. By applying Blockchain as a core technology, our current use case serves to de-risk trade finance transactions in the banking/financial sector.

Co-Creation Approach

Our unique approach reflecting collaboration and co-creation combines expertise from Etisalat Digital’s internal experts on Blockchain, leading external developers and drawing knowledge from the domain owners themselves.

We strongly believe “together matters” when creating industry wide solutions wherein the applied approach has led to the country’s first commercialized Blockchain distributed application (DApp) with a consortium of banks.

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Technology

Our solution helps in handling multiple types of trade related documents which are inspected, validated and tested for authenticity. UTC’s blockchain ensures trust, transparency and privacy between multiple organizations. A combination of leading edge technologies have been assembled into a robust platform deployed on Etisalat’s E1 Cloud.

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Artificial Intelligence

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Machine Learning

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Cloud Native

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Optical Character Recognition

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Automated Bots

Rules based Engine

Rules Based Engine

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Trust, Transparency & Privacy

Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. Our Blockchain technology is driven by dynamic rule-based models which ensures trust, transparency and privacy between multiple organizations.

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Cloud Native

The platform is hosted in the cloud and leverages the advantage of cloud technology. The platform is scalable and portable enabling the environment to be enhanced by adding new nodes in no time. Containerization based micro services enables the platform to be vendor neutral.

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Immutability

The goal of blockchain is to allow digital information to be recorded and distributed, but not edited. Records are stored on nodes and each node has a full record of the data since its inception by a unique hash. In the event the data is tampered with, the record will fail to align with the original data and cannot be manipulated.

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Value Proposition

Blockchain’s true value lies in its unique features including real time auditing, lower operational costs, reduced risks, shorter timeframes, and fully secure in nature. This unique value proposition is applicable to every business.

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Consortium

Collaboration is in our DNA. Our nation-wide platform was formed with 7 of the leading banks in the United Arab Emirates namely: Commercial Bank of Dubai, Commercial Bank International, Emirates NBD, First Abu Dhabi Bank, Mashreq Bank, National Bank of Fujairah and RAKBANK with Central Bank of UAE involved in the Steering Committee of the Consortium.

Since it went live, our platform is presently on-boarding additional banks and financial institutions to strengthen the network.

Future Evolution

As the digital age evolves rapidly, we will widen our Blockchain offerings to create solutions in various industries that are core to the country’s economy. We at UAE Trade Connect are committed in creating -together with our partners- industry wide solution that will transform the way that information is exchanged between participants.

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Banking & Finance

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Healthcare

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Logistics

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Government

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Manufacturing

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Education

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