Samsung-backed Blocko is launching in the United Arab Emirates in partnership with SEED Group, which is a private office of Sheikh Saeed bin Ahmed Al Maktoum of the royal family. This comes after it managed to raise USD 16 million in two separate rounds of funding in Asia. South Korea’s oldest bank, i.e, Shinhan, KEB Hana bank were few of the banks which participated.

Blocko now aims at establishing itself in the Middle East by bringing its Aergo platform in the United Arab Emirates after its successful ventures in Asia and Europe.

Phil Zamani, CEO of Aergo and Co-CEO of Blocko said:

“We launched Aergo in response to the growing need for data sharing between industries and companies in areas such as identity verification, document management and the Internet of Things – the same areas in which the Middle East in particular is seeking practical solutions.”

Blocko has previously implemented blockchain-based solutions about 38 times in South Korea for companies like Cisco, Samsung and Hyundai. Perhaps Blocko’s partnership with SEED will help with the upscaling of the enterprise across the globe. SEED’s CEO said that with their partnership, the increasing need for companies working at the highest level of scale and security can be met.

The UAE is making progress on several fronts related to blockchain developments within its region. As experts are already predicting, UAE could potentially be the next blockchain business hub, and considering the fact that many nations in the Middle East seek blockchain-based solutions for governmental digital services, the scope for scaling of Blocko only enhances.

 

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