Is the Middle East ready to launch its own bit?


nnnThe Saudi entrepreneur Mohammed Alsehli wants to launch the first digital currency in the Middle East through the ArabianChain Technology and Dubai Coin-DBIX in the Arab region, and to push the rest of the world in other regions. All along, the Arab region has since the natural resources to develop the economy, but this is bound to be an unsustainable development model, economic restructuring is imperative. With the development of block chain technology, the Middle East and North Africa region, especially the Gulf countries, have shifted the focus to technology investment, to build a technology economy.n
nnTranslation: Clovern
nFor the layman, the block chain technology may make it very confusing. This is especially true for those who have just begun to understand the rise of Bitcoin in the past few years.n
nThe block chain is called a digital pillar of other digits or encrypted currencies, such as Bitcoin, which is a digital categorical book that provides a de-centered record keeping and transaction processing encryption system.n
nThe decentralized nature of the block chain allows individuals and companies to do business on-line without the involvement of intermediaries or trusted intermediaries, thereby cutting costs.n
nSaudi entrepreneur Mohammed Alsehli is currently trying to copy the bitter coins in the Arab world through his company ArabianChain Technology and DubaiCoin-DBIX, which may be the first digital currency in the Middle East.n
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nArabian Bugshan Group Board of Directors, House of Invention International Vice President and ArabianChain The latest round of financing investment principal Eng. Ahmad Abdullah Bugshan and ArabianChain’s Mohammed Alsehli.n
nAlsehli said the goal is not to simply copy the bitcover model in the Arab world, but to change the way the Middle East “catch up with the digital age”.n
nDubaiCoin can be programmed to represent the company’s shares, or even represent the votes in the election.n
nAlsehli told Al Arabiya:n
nn”We did not directly develop a currency similar to Bitcoin, so we developed a platform called ArabianChain, the first open and desirable block of the Arab world, and if the block chain is to be run, Fuel, which is where Dubaicoin is needed, so Dubaicoin is the fuel and encryption currency for this platform.n
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nFinancing roundn
nToday, the company is receiving more and more attention, especially in the recent raised to 3 million dirhams (about 800,000 US dollars) after the funds.n
nAlsehli said: “Our goal is the technical trend and the world is gradually turning to the block chain as a disruptive technology, and fundamentally speaking, this technology is changing the way economic operation, business transactions and The way they work together, and this technology will also help to change the ecosystem we are currently understanding. “n
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nThe decentralized nature of the block chain allows individuals and companies to do business on-line without the involvement of intermediaries or trusted intermediaries, thereby cutting costs.n
nArabianChain is headquartered in the UAE, where the country is doing its best to help the Middle East catch up with the development of the Americas, Europe and Asia. In the past few years, the block chain has played an important role in the digitalization of several industries in these regions effect.n
nThe National Bank of Abu Dhabi said in February that it has become the first bank in the Middle East and North Africa to launch real-time cross-border payments for block chains and become the latest lender to use the technology.n
nWhile Dubai, the Emirate, said it had hoped that it would be completely paperless in 2021 and that Smart Dubai was launched to achieve that goal.n
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nTechnical economyn
n”The region, especially the Gulf region, is strategically turning to a technology economy,” said Ah Ahmad Abdullah Bugshan, associate member of the Arabian Bugshan Group and vice president of House of Invention International and ArabianChain, the latest round of financing and investment. This business and the transaction of the government and the private sector.I think the region will be in the block chain in a leading position, and ArabianChain is conducive to promoting this subversive technology innovation and adoption.n
nnThis change is normal, so the change is inevitable. This is going to happen. But the question is: are we ready? How can we maintain our importance in this great transformation of the world?n
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nPeter Smith, of Blockchain Founder, said the company was very pleased to work with the “world of extraordinary” region of the Arab world.n
nTunisia has also begun to incorporate the technology into public institutions, and its National Postal Service has announced plans to cooperate with a chain-related start-up company, which is responsible for the introduction of digital currency Bitcoin.n
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nInvest in the Arab worldn
nPeter Smith, of Blockchain Founder, said in his speech at the Al Arabiya News Channel Panel of the World Economic Forum in Davos this year that its company is very pleased to work with the “extraordinary perseverance” region of the Arab world.n
nSmith said to Al Arabiya:n
nn”We plan to invest heavily in the Arab region, because the region has the extraordinary will to make great strides in mastering new technologies and introducing new technologies to benefit its economy.”n
nnKhaled Biyari of Saudi Telecom agrees and says that policies that focus on promoting digital transformation have grown fast enough for their country and neighboring countries.n
nBiyari said:n
nn”Saudi Arabia and other Gulf countries have always relied on natural resources, so our vision is to shift the focus to technology investment.”n
nnAlsehli admits that start-ups like ArabianChain will not change everything in a day, but he says the world’s trends are changing and that the Middle East must fight to keep it competitive.n
nHe said:n
nn”This change is normal, so the change is inevitable. This is about to happen. But the question is: Are we ready? How can we maintain our importance in this great change around the world? Is helping this trend and maintaining its own importance among these upcoming changes. “n

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