Dubai Multi-Commodity Centre uses blockchain technology to boost sugar trade

According to ENA, Dubai Multi Commodity Centre (DMCC) has signed strategic membership agreements with Al Khaleej Sugar and Universa Blockchain. The DMCC's trade flow will support the development of a new sugar trading platform in Dubai. This developing platform will enable traders to purchase, store and trade sugar for Al Khaleej Sugar through smart contracts through the blockchain technology provided by Universa. The "DMCC Tradeflow" platform will use compulsory warrants as a central registration center for sugar ownership to prove that the reserve really exists and achieve secure and transparent international trade.