Megan Matrix

12.07.2018 16:37

Saudi Arabia collaborates with IBM to implement blockchain solutions for government

The government of Saudi Arabia has recently established a partnership with IBM, with the purpose to integrate distributed ledger technologies into the governmental and municipal services. The integration will be realized in the framework of the Saudi Vision 2030 program.

IBM will start blockchain integration for Saudi Arabia

IBM will start blockchain integration for Saudi Arabia

Targeted on the economic growth and focused on the development of economic sectors others than based on natural resources, such as healthcare, infrastructure, tourism, manufacturing, and education. Saudi Arabian government together with Riyadh Municipality, IBM and another partner – local tech firm called Elm, will soon organize series of meetings to discuss possible innovative strategies and to figure out what could be powered with blockchain.

Tarek Zarg El Aioun, General Manager, IBM Saudi Arabia, comments on the partnership:

"Through the collaboration between Riyadh Municipality, Elm and IBM, we will be able to help the Saudi government reimagine and transform the way in which services are provided to citizens, residents, businesses, and visitors. It is a strategic step towards supporting the objectives of Saudi Arabia's Vision 2030."

In February 2018 the Saudi Arabian Monetary Authority has established a partnership with Ripple to enable international transactions powered by blockchain. Software solution xCurrent from Ripple will allow Saudi Arabian banks to carry out immediate cross-border payments with improved transparency and lower fees.

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