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.