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August 15, 2018
Blockchain Regulations

Saudi Arabian Communications Ministry and ConsenSys Join Hands To Hosts ‘Blockchain Bootcamp’

 

Saudi Arabian government has publicized that it has accomplished “blockchain boot camp.” According to the Ministry of Communications and Information Technology (MCIT), the boot camps major focus focus was on building Ethereum based smart contracts and decentralized applications (DApps).

This was a 3-day event that was concluded on April 26. And was held together with ConsenSys, a blockchain software company which is based out in Brooklyn, New York. The Company is currently running various projects in the Middle East. According to Ministry of Communications and Information Technology, this event is part of its’s macro plans of developing a “digital environment” as part of its 2020 “action plan and objectives.”

Deputy Minister for Technology Industry and Digital Capacities, Dr. Ahmed Al-Thenayyan, said that the 2020 objectives are focused at building a digital environment that can attract, nurture and develop minds and skills in Information and Communication technology. This is in line with the goals that are focused towards achieving the digital transformation which can boost economic growth for the Kingdom.

The boot camp was meant to tap and identify Saudi Arabia’s potential human resource capital, providing them with blockchain knowledge, understanding and also creating awareness on the power of blockchain. The Boot Camp also discussed the current and future potential of blockchains and its implementation into KSA’s current affair of things

The just-concluded events are ConsenSys’s outpost. “The aim of this workshop is to leverage Saudi Arabia’s untapped human resource potential, equip them with knowledge and insight, so they understand the power of blockchain and the current and future potential of its application,” ConsenSys MENA executive director Lina Hediah added in further comments.

This blockchain software giant is also managing and taking major projects in Dubai. Dubai, one of the pioneers of blockchain in middle east, is also has ambitious blockchain plans that are set to be realized by 2020.

In the meantime, Saudi Arabia continues to research and test the use of blockchain technology in its economy, the Saudi Arabian Monetary Authority has collaborated with Ripple in February for a cross-border payments Test project.

The blockchain applications have been hailed to provide transparency, reliability, and traceability of activities on the Internet.

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