Joint Venture of BlockChain Services in Saudi Arabia and IBM

October 27, 2021lara taylorblog

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Riyadh Municipality joins IBM in developing BlockChain Services in Saudi Arabia to simplify government services and transactions in a July 11 ITP.net article. This decision represents a positive decision by the Government of Saudi Arabia to improve the quality of municipal services within the framework of Vision 2030.

The joint venture with IBM aims to integrate the latest and most innovative technologies to improve global operations in an agreement with the Government of Saudi Arabia.

Evolution of the nature of the Saudi blockchain

While many around the world are trying to integrate blockchain into their community, Middle Eastern countries are also part of the game. “Vision Saudi Arabia 2030” is the plan of economic development and diversification of the local economy in order to separate its economy from its oil base, which represents 30-40% of the national GDP.

Crown Prince Mohammed bin Salman has presented the agenda for the first time, which also sees a vision that includes improving and developing local infrastructure, tourism, education, military spending, health care and even manufacturing. Using the latest blockchain technologies can quickly improve daily life for millions of people across the kingdom in a bold move.

Possible BlockChain Services in Saudi Arabia and IBM joint venture

Working together with IBM

At the municipal level, IBM will develop the initial blockchain, although it will be Elm who will implement the technology and ensure that it is working and delivering the promised services. Tarek El-Ayoun Zarg, general manager of IBM in Saudi Arabia, is fully convinced that Saudi blockchain technology can change the world, redefine business and simplify transactions, which will make some kind of financial revelation with the assistance of Artificial intelligence solutions in Saudi Arabia.

“Thanks to the cooperation between the Municipality of Riyadh, Elmar and IBM, we will be able to help the Saudi government reinvent and change the way in which services are provided to citizens, residents, businesses, and visitors,” Tarek El-Ayoun told.

The news broke in May that the Saudi government had conducted what it described as “blockchain programs” sessions focused on building contracts for Etherum and other field applications (Dapps). The event was seen as part of a plan to create a more accessible digital environment to achieve long-term goals for the Kingdom. We see that the blockchain industries in many countries are now starting to take off, with the presence of the Arabian Peninsula there.

BlockChain Development Services in Saudi Arabia is taking the lead in the Middle East to integrate blockchain technology that can help improve the lives of millions of people.