The new service was first previewed at OpenWorld in October last year, and is based on the Linux Foundation’s open source Hyperledger Fabric platform – a collaboration tool for building Blockchain distributed ledger business networks, such as smart contract technology.
Dubai-based blockchain startup ArabianChain Technology has signed a joint venture with Dubai-and-London-based innovation firm Curiositas to create Wethaq.
Dubai now has the world’s first B2B smart commerce platform for free zones, allowing companies from around the world to connect and trade through the emirate.
“Smart contracts need to be developed to the point where they are admissible in court and can be used in dispute resolution,” said Khalid Hamad.
The event gathered together ministers and 700 participants to promote Oman as an enabling business environment for international Blockchain firms.
Based in the UAE and with operations in Saudi Arabia and Kuwait, ArabianChain enables governments, enterprises, startups and individuals to use blockchain-based tools and languages and build their transactions and contracts on its platform.