Blocko CEO says blockchain hype will disappear and many companies will cease to exist – Blockchain News

Phil Zamani, co-CEO of Blocko and CEO and founder of Aergo, reckons that only a few blockchain companies from thousands will exist in the next five years as blockchain hype will disappear. Samsung-backed Blocko launched in the UAE in partnership with the UAE royal family.

In September, Samsung-backed Blocko launched in the UAE in partnership with the SEED group, a member of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum. In an interview with Arabian Business, Phil Zamani, co-CEO of Blocko, said that the blockchain market would consolidate. He added that if IT has taught him anything in 35 years is that the hype curve is relatively correct.

He also said that this happened with cloud, AI, open-source, and it is likely to happen with blockchain as well. He further added that from thousands of blockchain companies, only a handful of them would survive, and they aim to be one of those. Currently, governments all over the world are taking an immense interest in the blockchain technology.

Hisham Al Gurg, CEO of SEED Group and the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, said that the blockchain company would enable the UAE to make its digital promise a reality for its government departments, citizens and businesses.

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Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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