Fantom Foundation, a DAG blockchain with an open source stack project focussing on Smart City applications, is announcing a partnership with The Private Office of Sheikh Saeed bin Ahmed Al Maktoum. Through this partnership, Fantom aims to help Dubai develop new economic opportunities and deliver a better user experience for UAE citizens using their technology.
While many other countries have decided to take a negative stand towards blockchain technology and cryptocurrencies, the United Arab Emirates (UAE) is committed to become a world-leader in blockchain adoption as part of the Smart Dubai initiative which was founded by the Dubai ruler, Vice President and Prime Minister of the UAE to collaborate with the private and government sectors to be the “first city fully powered by blockchain by 2021.” Under this initiative, over USD $6 billion have been allocated to improve Dubai’s tech and Smart City infrastructure.
The Ruler of Dubai is actively working alongside private and government sectors to empower and deliver a more efficient and happier city for their citizens through the achievement of integrating blockchain technology with startups and businesses in order to become a global leader in the tech sector.
According to Hisham Al Gurg, CEO, SEED Group and The Private Office of Sheikh Saeed bin Ahmed Al Maktoum:
“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.”
The partnership comes as a result of Fantom’s successful trip to Dubai in April and the subsequent discussions by the Sydney-based Fantom Innovation Lab,