Saudi Telecom Co. (STC) has inked a memorandum of understanding (MoU) with blockchain company ConsenSys to help bring blockchain technology to a number of industries in Saudi Arabia.
“The new technology will reshape the Kingdom’s digital future and help develop new solutions for the Kingdom’s business segments,” said Riyadh Muawad, STC Vice President - Sales & Business.
Blockchain technology can help businesses communicate and exchange data in a secure manner, and expedite transactions across numerous fields including real estate, banking, healthcare, and oil and gas.
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