STC and ConsenSys announce the launch of blockchain adoption in KSA

Oct 18, 2018

Saudi Telecom Company (STC) and ConsenSys, a leader in blockchain technology, today 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 Middle East and North Africa. This product allows clients to create blockchain nodes in a sandbox environment and build blockchain networks and test use cases without the need for infrastructure investment or heavy development.

Riyadh S. Muawad, Vice President of Government Sales & Key Accounts at STC Business added, “Blockchain on is one of several initiatives STC aims to roll out to its customers to pave the way for blockchain adoption. STC is committed to provide its customers with innovative solutions, and Blockchain on 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 organizations 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 nor 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.