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Samsung-backed DLT companies launch blockchain expert group for the MEASEA region

Aergo and Blocko, two blockchain companies supported by both Samsung and Sequoia Capital, announced on April 27th Start of a regional reflection group to promote the introduction of innovative technologies in the Middle East, Africa and Southeast Asia (MEASEA) regions.

The Execution Intelligence Group (E24P) wants to promote “intelligent” solutions for governance, tourism, supply chain and finance who use the blockchain together with artificial intelligence (AI).

Currently The E24P includes Aergo, Blocko, Western Union’s Topos transfer platform, the Al Nahyan family from Abu Dhabi, one of the six ruling families of the United Arab Emirates (UAE).and “a major research institute based in the UK and China”.

DLT companies launch a group of blockchain experts at MEASEA

Samsung-backed DLT companies launch blockchain expert group for the MEASEA region
Samsung-backed DLT companies launch blockchain expert group for the MEASEA region

The group wants to advance the practical applications of the AI-integrated blockchain: “Creating economic opportunities that improve social outcomes, leverage new business models and eliminate inefficiencies in governments and large corporations.”

In the organization’s press release claims that “too many blockchain projects are limited to proof-of-concept ideas that have no real business value”and emphasizes his desire to promote the development of “production-ready solutions with immediate business results”.

E24P has planned several government meetings in Abu Dhabi, Jeddah and Riyadh.

The UAE is nearing the end of an ambitious DLT strategy

In recent years The UAE has become a regional leader in the introduction of distributed ledger technology (DLT).With the launch of the Emirates Blockchain Strategy 2021 plan in 2018, a comprehensive roadmap for migrating 50% of all government transactions to blockchain platforms by the end of this year.

The review is expected to save 77 million man-hours and $ 3 billion in costs related to processing deleted documents and transactions.and reduce the number of government-printed documents by 398 million a year.

The ports and land register of Abu Dhabi have already introduced blockchain frameworks for monitoring logistics and the title register.

AI integrated into DLT to revolutionize supply chains

The preferred technological combination of E24P, blockchain and AIis increasingly seen as a solution for navigation in complex supply chains.

Earlier this month, The leading Canadian company Federated Co-operatives Limited (FCL) is a partnership with the blockchain-based supply chain middleware platform, Morpheus.Network. The association will see FCL integrate DLT into AI to track supply chains and register the data of 1,400 companies and 23,000 workers covered by FCL.

The system will replace a mostly manual process in which thousands of documents and certificates from more than 150 suppliers have been physically scanned and processed.

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