Fantom Foundation to Start Its Operation in the UAE Following a Partnership with The Private Office of Sheikh Saeed bin Ahmed Al Maktoum
Patrick Osman, Director – International Ventures, The Private Office, Hisham Al Gurg, CEO, The Private Office, Ashton Hettiarachi, Head of Innovation Lab, Fantom Foundation, David Freuden, Partner, Fantom Foundation
Dubai, United Arab Emirates –17 July 2019 – SEED Group, under The Private Office of Sheikh Saeed bin Ahmed Al Maktoum, today announced that it has entered into a partnership with Fantom Foundation, a DAG-based smart contract platform to address the issue of scalability and confirmation time of the existing blockchain technology. The partnership was announced as part of the arrangement to accelerate the city of Dubai’s vision of being a smart city fully driven by blockchain technology.
Following Fantom Foundation’s successful trip to Dubai in April and further discussions with the Sydney-based Fantom Innovation Lab, led by Ashton Hettiarachi, David Freuden and Technical Advisor Andre Cronje, SEED Group took a step forward by discussing potential collaborations after seeing the opportunities for greater innovation outcomes brought about by the unique blockchain technology product and services offered by Fantom Foundation. This will then contribute to the realization of Smart Dubai‘s initiatives, also taking into account the strong link that Fantom has established with Smart Dubai, Dubai Blockchain Center, and the Dubai Future Foundation following its participation in the 2019 Austrade Blockchain Trade Mission. UAE unveiled its “Smart Dubai” initiative, which aims to make the metropolis a world leader by becoming the “first city fully powered by blockchain by 2021.” This massive undertaking involves embracing the technology for as many government services as possible.
“We are super excited to partner up with The Private Office of Sheikh Ahmed bin Saeed Al Maktoum to bring innovation and build solutions for Dubai to create new economic opportunities and deliver better user experience for UAE citizens.” Ashton Hettiarachi, Head of Innovation Lab, Fantom Foundation.
Dubai is a very diverse city with an economy that is immensely growing, and for the extensive implementation of blockchain, moving products and services should be parallel and represent the nation’s variety of domestic and global objectives and needs. SEED Group and Fantom Foundation have therefore committed to working together to enhance ability and services locally, nationally and regionally. This arrangement will see Fantom Foundation working through the Smart Dubai Initiatives with various government and private sectors, providing its knowledge on blockchain technology services, and engaging at the national level, with priority on the government.
“This day marks the beginning of a new partnership that lays the groundwork for integrating Fantom Foundation’s technology and expertise into the vision of Dubai to become a blockchain city. Given their extensive experience in technology R&D and working with partners, we look forward to seeing how this will significantly benefit the Smart Dubai initiative strategy,” said Hisham Al Gurg, CEO, SEED Group and The Private Office of Sheikh Saeed bin Ahmed Al Maktoum.
The partnership also indicates the establishment of the operational presence of the Fantom Foundation in Dubai.
About Fantom Foundation (FTM)
Fantom is a DAG blockchain with a modulated tech stack solution with aBFT consensus enabling fast, immutable and secure consensus. This makes Fantom Protocol ideal for highly complex applications requiring high throughput such as data sharing, Machine-to-Machine transactions and smart cities, such as public utilities, government services, traffic management, telecommunications, healthcare, education, resource management and environmental management.
For more information, visit www.fantom.foundation
About SEED Group
Over the past 16 years, SEED Group has formed strategic alliances with leading global companies representing diverse regions and industries. These companies have propelled their business interests and goals in the Middle East and North Africa region through the support and strong base of regional connections of the SEED Group. The Group’s goal is to create mutually beneficial partnerships with multinational organizations and to accelerate their sustainable market entry and presence within the MENA region. SEED Group has been a key point in the success of all its partners in the region helping them reach their target customers and accelerate their businesses. The Private Office was established by Sheikh Saeed Bin Ahmed Al Maktoum to directly invest in or assist potential business opportunities in the region, which meet The Private Office’s criteria.
Fantom Foundation Contact:
SEED Group Contact:
Nomarie Jean Lacsamana
+971 4 373 5068