Banking & FinanceGITEXGitex - CloudGovernmentKSATelecomTop Stories

STC and ConsenSys announce Blockchain launch to accelerate its adoption

STC and ConsenSys announce Blockchain launch to accelerate its adoption

Saudi Telecom Company (STC) and ConsenSys, a leader in Blockchain technology, have announced the launch of Blockchain on STC Cloud, a move set to accelerate Blockchain adoption in the Kingdom. It will provide enterprises and governments with a path to enable mass adoption of the technology through dramatically lowering the costs of prototyping and experimentation with Blockchain.

STC and ConsenSys will be showcasing the new technology during GITEX 2018, the biggest technology show in the Middle East and North Africa. This product allows clients to create Blockchain nodes in a sandbox environment, build Blockchain networks and test use cases without the need for infrastructure investment or heavy development.

Riyadh S. Muawad, Vice President of Government Sales and Key Accounts at STC Business, added: “Blockchain on is one of several initiatives STC aims to rollout to its customers to pave the way for Blockchain adoption. STC is committed to providing its customers with innovative solutions and Blockchain is one of many to be provided.”

Talal AlBakr, Vice President of Cloud Services at STC Solutions, added: “Adding Blockchain to STC’s Cloud Marketplace allows customers to start a private Blockchain network with a click of a button. This service is a unique innovative offering on our marketplace that helps organisations to rapidly build and deploy Blockchain applications.”

In line with the Kingdom’s Vision 2030, this latest launch will further open emerging technology avenues by bringing Blockchain technology to empower various industry verticals across Saudi Arabia.

Lina Hediah, Executive Director, ConsenSys MENA, added: “The service will allow enterprises to build private Blockchains, rapidly deploy nodes, experiment with coding on the Blockchain in a test environment without the need for any development or infrastructure requirements.”

“ConsenSys’ Blockchain on cloud will enable public and private entities to create a new network or join an existing network on which they can deploy Blockchain applications and smart contracts,” said Rami Maalouf, Lead of ConsenSys Solutions in MENA.