Regional blockchain innovator ArabianChain raises AED 3 million in funding
ArabianChain, one of the first companies in the region to develop a public and decentralised platform for smart contracts on blockchain, has raised AED 3 million in its latest round of funding.
Investor, Eng. Ahmad Abdullah Bugshan, is a Board Member at the Arabian Bugshan Group and Vice President at House of Invention Intl., a prominent firm in the field of telecommunications in the region, serving various private and public sectors, ranging from Telcos to Ministries, with a wide array of global affiliations.
“The region, particularly the Gulf, is moving strategically towards technology-enabled economies and this is impacting business and transactions across the Government and private sector. I believe that the region will lead the way when it comes to Blockchain, and ArabianChain is well-positioned to drive innovation and adoption of this disruptive technology. I am proud to be associated with the team at ArabianChain, and to help direct the business to be in line with the strategic and transformational visions of the GCC Governments and leadership,” said Bugshan.
Founded in UAE and with operations in Saudi Arabia and Kuwait, ArabianChain enables Governments, businesses and individuals to use the ArabianChain tools and languages and build their transactions and contracts on the ArabianChain platform, for whatever transaction they may be recording.
“Our vision regarding the potential of Blockchain technology in the Middle East has been validated by this round of funding, and we are very pleased that Eng. Bugshan has decided to play a pivotal role with us on the future of Smart Contracts and Transactions in the region. With the opportunities that this now provides us, we are confident of making further inroads into the Government and Private sector across the region, and helping them transform the way they transact,” said Mohammed Alsehli, Founder-CEO, ArabianChain.