News / Egypt expands customs handling via blockchain and goes multimodal

© Alexey Novikov

Following the launch of its National Single Window for Foreign Trade Facilitation (NAFEZA) last year, Egypt’s 80% state-owned company, Misr Technology Services (MTS), has extended its agreement with CargoX to provide Ethereum blockchain services for the next five years.

Ethereum is a decentralised, open-source blockchain with smart contract functionality. Since making the use of  NAFEZA  mandatory in Egyptian ports last year, the transfer system has handled over 1.1 million trade and finance documents for some 75,000 customers.

The new agreement extends this for ...