The World Economic Forum (WEF) has released a comprehensive blockchain toolkit in collaboration with the Centre for the Fourth Industrial Revolution UAE and Dubai Future Foundation (DFF) to give businesses and organizations industry-tested solutions to the critical concerns hindering global supply chains, which have been revealed by the coronavirus (COVID-19) pandemic.
The Redesigning Trust toolkit provides tools, resources, industry insights and best practices for organizations exploring ways to improve traceability, visibility, accountability and end-to-end, real-time communications for businesses big and small.
The toolkit has been developed through deep analysis of projects and use cases of more than 100 blockchain stakeholders from more than 60 public and private sector entities across the world concentrated on supply chain logistics, including noticeable work and feedback from the Dubai Future Foundation and World Economic Forum Centre for the Fourth Industrial Revolution UAE.
“As a test-bed for technological innovations and ideas that drive transformations in vital industries, DFF’s contribution to the toolkit will greatly benefit decision-makers, entrepreneurs and businesses in defining their future strategies.”
Ahead of the toolkit’s release, it was trialed by DFF and World Economic Forum Centre for the Fourth Industrial Revolution UAE, with the Abu Dhabi Digital Authority, to offer real-world feedback on its usage and effectiveness, in addition to providing alignment with the UAE’s blockchain infrastructure development strategy. The results and insights obtained from the trial were shared and included in the final publication.
The UAE and DFF also played critical research roles in the formulation of the toolkit with a whitepaper penned by the World Economic Forum Centre for the Fourth Industrial Revolution UAE.
“The role blockchain technologies can play in the economic recovery post the COVID-19 disruption will be critical. The upheaval has dislocated economies and ecosystems, and has hindered supply chains because of a lack of transparency, visibility and traceability on goods being moved around the world.”
The Forum’s blockchain toolkit presents insights for public and private sector entities to re-enter and compete across markets.
“The United Arab Emirates played an integral role in shaping the toolkit. We are grateful to the World Economic Forum Centre for the Fourth Industrial Revolution UAE and the Dubai Future Foundation for driving the inclusive deployment of blockchain technologies and for sharing tried-and-tested lessons and best practices to benefit all,” said Nadia Hewett, Blockchain and Digital Currency Project Lead, World Economic Forum