Tezos Foundation signs MoU with Taibah Valley in Saudi Arabia to increase investment on decentralized technologies

Tezos Foundation signs MoU with Taibah Valley in Saudi Arabia to increase investment on decentralized technologies

By Allen Walters | Publish0x posts | 29 Jul 2020


Taibah Valley is a company based in Saudi Arabia that describes its main mission as: "Developing effective and sustainable investment opportunities and employing competitive advantages to enhance shareholders’ interests and support the national economy." 
The company was founded in 2018 to help realize "Vision 2030" and the "Digital Transformation Program". The latter is a program initiated by Saudi Arabia’s National Committee for Digital Transformation.

Government and business entanglement makes Taibah Valey a very important and interesting organization in the region to partner with. The Taibah Valey board of directors consists of 9 members, among whom Dr. Musleh bin Hamed Al – Otaibi, which is the President and executive Chairman of the Royal Commission for Jubail and Yanbu, Public Administration in Jubail, petrochemical industry and energy-intensive industries. Also member of the board of directors is Dr. Ibrahim bin Saad Almagel, which is Chairman of the Saudi Industrial Development Fund.

One of the key pillars of the Taibah Valley is the Blockchain Lab, which has five main goals: 
-Empowering clients to change the way the local market works.
- Developing meaningful projects in blockchain network.
-Supporting startups and entrepreneurs to build their projects with the assistance and guidance of blockchain lab.
-Encouraging vital clients to adopt blockchain Lab products.
-Raising awareness of blockchain technology.

The Taibah Valley Blockchain Lab provides the following services
* Consultation & Training.
* Blockchain Development.
* Smart Contracts Development
* ICO Services
* Technical support & DApp Integration
* Health Care

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Yesterday Tezos Foundation and Taibah Valley signed a MoU (Memorian of Understanding), which aims to link local dApps with the Tezos ecosystem and to increase investments on decentralized technologies. Both parties will aim their resources in collaboration towards high potential startups in the region. As Hubertus Thonhouser stated, this agreement is laying the foundation for Tezos adoption in the GCC (Cooperation Council for the Arab States of the Gulf). Hubertus Thonhouser is the current chair of the Tezos foundation. His involvement in the GCC region is no surprise, since he is Founding Partner of Enabling Future, a family office backed VC firm and tech-company builder based in Dubai, Capital of United Arab Emirates, which is one of the five members of the GCC.

Tezos continues to expand a world-wide network of organizations that push Tezos towards full quality adoption. Last year, Tezos Southeast Asia announced their partnership with Tribe, Singapore’s first government-supported blockchain accelerator platform. Tribe starts Tezos scholarship courses this August.

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Allen Walters
Allen Walters

Fascinated by blockchain and future proofing cryptocurrency. Discover the tech before it gets relevant. Twitter: @IgnoranceIt


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