At Davos, the UAE government signed an MOU with WEF (World Economic Forum) to support UAE's new Blockchain and AI enabled Trade Tech initiative. The initiative is designed to accelerate the digitization of international supply chains, enhance customs procedures, and improve developing countries' access to the global trading system and, as a result, spur a new era of trade growth. From the UAE’s side, the MoU was jointly signed by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Mohamed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development (ADDED), and Prof. Klaus Schwab, WEF Founder and President. The agreement will support the UAE’s efforts to deliver the initiative’s four key components: a global forum to gather trade, industry and technology leaders to share best-practice; an annual research report into the trade tech landscape, real-life applications and emerging trends; a regulatory sandbox to enable companies and startu

  Oman Al Shawamikh Oil Services Company will cooperate with Oman Frontech , a government entity established by both Omantel and Ethcha (Oman Investment Authority) to implement Blockchain to ensure sustainable management of its energy solutions.  Frontech launched the National Blockchain Platform to accelerate the digital innovation efforts in the Sultanate of Oman, in line with the requirements of the Fourth Industrial Revolution. The platform offers two services: Blockchain Factory as a sandbox environment, Blockchain as a Service (BaaS), and Blockchain as a Service (BaaS). Oman’s Energy entity, Al Shawamikh Oil Services Company, will work with Frontech to develop a sustainable energy management system built on blockchain technology. Frontech will utilize blockchain to represent the production units in the sustainable energy network, as well as track and manage these units. During the signing ceremony, Dr Aflah bin Said Al Hadhrami, CEO of Al Shawamikh Oil services, said, “