Dubai, UAE: New Technology Systems LLC (NTS), Intertec Systems, Konvexe, Block Armour, and Blockchain Worx SG today announced a strategic partnership to expand blockchain-based enterprise solutions in the Middle East region. The collaboration will see the deployment of next-gen blockchain-powered infrastructure and systems to help organisations accelerate digital transformation programs and lead in the post-Covid-19 digital era.
While NTS, Intertec, and Konvexe are leading IT software and services providers headquartered in Dubai, UAE, Block Armour, and Blockchain Worx are Singapore-headquartered cybersecurity solution providers and blockchain design studios, respectively.
The companies will begin by deploying Blockchain Worx’s Web3 Innovation Lab in the region to serve as a hub to showcase relevant solutions, explore new possibilities, and accelerate innovation while working together with enterprise and government clients to roll out a wide range of business-ready use cases for blockchain technology. In addition, the endeavor will also offer a well-defined execution strategy for businesses in the Middle East looking to adopt blockchain technology to streamline their business processes.
Speaking on the latest development, Block Armour and Blockchain Worx Co-founder, Narayan Neelakantan observes, “Blockchain has gone mainstream across industry sectors with the technology swiftly becoming an integral part of today’s modern ‘Digital’ enterprise-IT infrastructure. From Dubai’s Blockchain Strategy to Saudi’s Vision 2030 and the upcoming FIFA World Cup 2022 in Qatar which will have a wallet powered by Blockchain, we see organisations in the middle east taking the lead and deploying next-gen technology as they look to establish themselves as global ‘Digital’ hubs of the future. We are eager to support this transformation and be a part of the mission”.
According to Arindam Baruah, CEO of Konvexe “The leadership of UAE has a strong vision of making this country a “Digitally Driven Economy” and blockchain plays an integral part of this vision. With this strategic partnership, our primary aim is to align with the vision of this country and become a catalyst for its economic growth by making blockchain adaptable for enterprises. With our strong industry-driven use cases and structured execution strategy we will ensure every enterprise is a part of this growth”.
“This is a very critical alliance for us as a company and also for our futuristic strategy around blockchain. We are confident that we will be able to bring a revolution in the entire understanding of blockchain and its use cases in the enterprise segment”, says Sunil Samdani, Business Manager at New Technology Systems. “With a definite digitally driven future set for this region, we believe that together with Konvexe, Block Armour, and Blockchain Worx we will be able to provide the innovative and disruptive perspective of growth for our clients. Among various solutions, I would like to emphasise our BLOCKCHAIN INNOVATION LAB, where would like to invite organisations across verticals to come and discover the utility of blockchain for their specific environment. This also gives them a chance to collaborate with blockchain experts across the globe”, Sunil concluded.
Analyst firm Gartner forecasts that blockchain technology will create more than $176 billion worth of business value by 2025 and $3.1 trillion by 2030. Meanwhile, governments in the MENA region are increasingly looking at blockchain to address issues ranging from financial services to public administration record-keeping, while shifting focus towards highly profitable ‘Digital’ sectors and away from dependence on oil-based industries.