Blockchain has slowly but surely become a budding phenomenon in the region, with each year proving more how the nascent technology can provide innovative solutions for several issues. 

Two blockchain firms, Hong Kong’s Aergo and South Korea’s Blocko, have announced the launch of a blockchain consortium in the Middle East, Africa and Southeast Asia (MEASEA) region. Both firms are backed by tech giant Samsung and American venture capital firm Sequoia Capital. This association also comprises Abu Dhabi’s Al Nahyan family enterprise and is designed to extend the efforts of AI-integrated blockchain initiatives to enrich the ecosystem across the region, in aspects such as governance, tourism, supply chains and smart financial solutions.

The consortium, titled the Execution Intelligence Group (E24P), will be an organisation aimed at deploying the emerging technology led by field experts that have been spearheading the digital solution for over two decades. E42P has scheduled government briefings to take place soon in Abu Dhabi, Jeddah and Riyadh.