(MENAFN) The first public chain in the Arab world, ArabianChain, announced it raised funding of 3mln dirhams in the latest round, and the investor is Ahmad Abdullah Bugshan, board member of the Arabian Bugshan Group and vice president of House of Invention Int"l (HOI), serving various private and public sectors.
Bugshan said: "The region, particularly the Gulf, is moving strategically toward technology-enabled economies and this is impacting business and transactions across the government and private sectors."
Also, Mohammed Alsehli, founder and CEO said that their vision regarding the potential of blockchain technology in the Middle East has been validated by this round of funding, and they are pleased that Bugshan decided to play a role in the future of smart contracts and transactions in the region.
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