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Saudi Telecom Company has recently signed an MOU with ConsenSys, one of the leading companies in Blockchain technology in Riyadh. Keeping in line with the country’s 2030 vision, the MOU is a collaboration to bring in Blockchain technology in the country and empowering various industry verticals.

The MOU was signed by Riyadh S. Muawad, Vice President of Key Accounts at STC Business and Lina Hediah, Executive Director, ConsenSys MENA Region on behalf of Joseph Lubin, Founder of ConsenSys and Co-Founder of Ethereum Project.

According to Mr. Riyadh S. Muawad, STC is striving to develop unique solutions for the government sector using Blockchain technology and making it the future of digital technology in Saudi Arabia. STC is eyeing to become the leader in providing Blockchain application in Saudi Arabia’s business market.

This collaboration marks ConsenSys’s official arrival in the country and also hints at the company’s commitment to the development of the nation through blockchain technology. The company’s extensive experience highlights their capability in building bespoke applications that leverage STC’s reach in the region and transforming the social and economic infrastructure in the process.

With this announcement, STC organized a workshop that offers an overview of blockchain technology. Moreover, it will also aim to provide information regarding identification and prioritization of services that can best be used for the public and private industry sector.

The agreement is a part of STC’s consistent efforts that centre around strengthening its position as the chief enabler of digitization initiatives in Kingdom of Saudi Arabia.