Saudi Arabia moving forward with blockchain and Web3 through new royal partnerships

 

 

Saudi Arabia is moving forward with Blockchain and Web3 with partnerships such as the one between Indian Beyond Imagination technologies, a blockchain Web3 tech company and Saudi Aba’ad Alkhayal software company Co-founded by Princess Hesah Al Saud.

With this partnership Beyond Imagination technologies will expand into the Middle East.

Aba'ad Alkhayal is a Saudi-based software company that leverages the latest technologies like blockchain and artificial intelligence to help businesses thrive in the digital age.

The partnership aims  to ideate, develop, and deploy solutions that will help Middle East clients with blockchain. The move comes as part of the company's commitment to fostering blockchain adoption and innovation across various industries in the region.

"We are thrilled to embark on this exciting journey, committed to reshaping the future of technology," said Princess Hesah Al Saud, Co-Founder, Aba’ad Alkhayal. "With this partnership, we envision a future where we harness the power of blockchain to unlock the full potential of our economy. This new beginning will pave the way for digital transformation, creating countless employment opportunities for our citizens and empowering our students with the knowledge and skills needed to embrace this digital revolution. Thus, we aim to drive positive social impact and create a better tomorrow in Saudi Arabia through technology."

Beyond Imagination Technologies will provide its flagship solution BitMemoir to Aba’ad Alkhayal, which will help clients with digital certifications. Users can convert personal identifiers, property documents, and other sensitive materials into digital certificates, or NFTs, and store them in their own wallets. By utilizing blockchain technology, BitMemoir enables users to own their personal documents in perpetuity.

"We are excited to bring our cutting-edge blockchain solution to the Middle East, "said Mr. Nikhil Goyal, Co-Founder - Technology, Aba’ad Alkhayal. "Our expansion into this dynamic region marks a significant milestone in our journey to revolutionize industries and empower businesses with the potential of blockchain technology. We firmly believe that blockchain has the power to reshape the future, and we are committed to being at the forefront of this transformation."

He further added, "By 2030, Saudi Arabia aims to unleash the full potential of its citizens and resources, embracing digital transformation to forge a brighter, interconnected future for all. This ambitious path includes the transformation of the Kingdom into a fully digitized society, a beacon of technological advancement and innovation. Thus, being the frontrunners in the blockchain space, we want to contribute to this aim of the nation to our full potential."

As part of its expansion strategy, Beyond Imagination Technologies plans to establish more regional offices and collaborate with local partners to enhance its reach and support customers more effectively. By engaging with the vibrant Middle Eastern community, Beyond Imagination Technologies seeks to foster knowledge sharing, workshops, and events to promote blockchain education and awareness.