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Here’s a surprise breakfast byte! Blockchain Symposium, a first of its kind, has started on Monday, November 6, 2017, at Sheraton Hotel, Muscat. The event that will continue till November 9, 2017, reflects the upcoming changes in the global business and economy in the next five years due to the increased use of technology for managing data and services.

The Ministry of Foreign Affairs, The Central Bank of Oman, the State General Reserve Fund (SGRF), and the Capital Market Authority have teamed up to organize this unique symposium in the Sultanate. Their primary goal has been to explore in depth, all the opportunities which the innovative technology offers, and find out how they can be implemented in the Omani financial, banking, and public sectors successfully. Attended by numerous prominent local politicians, industry experts, top banking professionals, the forum features panel discussions on the future of blockchain, and its contributions to the society and the business community.

The Deputy Executive President of the Central Bank of Oman, Sultan bin Salim Al Habsi, said the primary goal is to come up with a framework to implement all the advanced technologies in the Sultanate’s financial, banking and public services sector. Furthermore, the participants in the symposium will suggest a plan to establish electronic platforms for blockchain technologies in several civic organizations.

H.E. Abdul Salam bin Mohammed Al Murshidi, the CEO of the SGRF has stated that a dedicated team from the Fund has been working hard to examine the blockchain technology in details, and to propose ways to implement it in the business and public life. In his view, blockchain is not limited to the financial services only. It can be successfully used in the maritime and healthcare industries as well.

The Omani government is now establishing an agency to provide guidance and assistance to all local entrepreneurs interested in blockchain but lacking information or resources for it.