IBM to Help Saudi Arabia to Implement Blockchain

As reported, blockchain projects are needed to serve the citizens of the country in digital format and support the goals of the program Saudi Vision 2030

12 July 2018 1067

The municipality of the capital of Saudi Arabia, Riyadh, announced a cooperation with the technological giant IBM. The company will develop strategies for implementing DLT in public services. This is reported by ITP .net.

Elm, the technology partner of the municipality, will help IBM. The task of the American corporation is to develop a blockchain solution for the municipality, and Elm will integrate these technologies into the government services of the country.

According to representatives of the municipality, blockchain projects are needed to serve the citizens of the country in digital format and support the goals of the program Saudi Vision 2030.

We are proud of the partnership that will significantly enhance the methods and procedures of the services provided by the Municipality. Elm is continuously applying its expertise, innovative capabilities, national talents and global partnerships towards the systematic digital development that ensures improved efficiency, in line with the Kingdom's National Transformation Program 2020. The expertise of Elm will contribute to enriching customer experience, to build the best solutions for both public and private sectors and to contribute to the transformation towards an e-Government model, in line with the Saudi Vision 2030.

Dr Abdulrahman Al Jadhai

Chief Executive Officer, Elm

Earlier IBM announced a partnership with the Australian government. As part of the cooperation, the corporation will provide automation services to the country's departments and help introduce blockchain technology into government services.

cryptocurrency Blockchain

Bakkt to Release Consumer App This Year

The app can be used for a wide range of tasks, e.g., crypto and securities trading, virtual goods purchase, etc

23 January 2020 102

Institutional Investor Platform Bakkt will release an app for retail investors this year, with which users can pay with cryptocurrency.

According to the president of Bakkt Adam White at the World Economic Forum in Davos, the application can be used for a wide range of tasks. In addition to trading cryptocurrencies, it will support various virtual “goods” like points of loyalty programs.

In addition, in the future it is possible to add securities trading, as well as the creation of a portal for shops and merchants. That is, the application will be more like a traditional fintech product like PayPal than a solution from a cryptocurrency exchange.

Although the Bakkt platform was originally created for institutional investors, the new director of Mike Blandina is very serious about entering the retail market. Earlier, he said that the application for retail investors should be released in the first half of 2020.

I do not think we are there yet. What gives me optimism is that we are seeing a lot of developer interest. I am confident that someone is going to find something.

Adam White

President of Bakkt

White added that the cryptocurrency market is still underdeveloped.