DUBAI: Saudi Arabia-based Quara Holding is teaming up with Ethereum software firm ConsenSys to bring blockchain technology to the Kingdom’s real estate sector.
The Brooklyn-based firm has pioneered the utilization of computerized resources inside the real estate business, empowering customers to utilize blockchain technology for property investments.
Its partnership with Quara Blockchain will help both the private and public sectors to gain from ConsenSys’ software solutions, the paid stated.
“Partnering with ConsenSys brings new and innovative blockchain solutions to our clients while providing Quara Holding with unrivaled development and continuous support in a whole new decentralized landscape,” Quara Holding chief Ziad El Chaar said.
ConsenSys is positive about the partnership and its potential to inspire the use of blockchain in the Kingdom.
“As a partner, Quara Holding will have full access to the ConsenSys infrastructure, which is the gateway for a number of exciting opportunities,” the company’s business development lead in the Middle East, Philip Matov, said.
The technology will be utilized over Quara Holding’s companies, in a number of sectors having real estate, finance, supply chain, government, healthcare, oil and gas, e-commerce, and education.
Other countries in the Gulf like the UAE have been investing in infrastructure to accommodate blockchain technology.