Samsung-backed enterprise blockchain company launches in the UAE
Blocko aims to speed up the region’s digital transformation for both businesses and residents
Blocko, an enterprise blockchain provider has officially launched in the UAE to offer a simpler way for enterprises and government entities to adopt blockchain solutions into their infrastructure. Blocko and its newly-launched hybrid public-private blockchain implementation of Blocko’s blockchain technology, Aergo, enter the emirates through a strategic business and technology partnership with SEED Group, a member of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum.
Currently supporting over 20 enterprise clients with solutions in place estimated to be serving more than 25 million end-users daily, Blocko aims to accelerate the region’s digital transformation for both its businesses and residents by supporting government bodies and other large enterprises to innovate by embracing and deploy high scale blockchain solutions.
Having already established a significant presence in South Korea, the UK and Hong Kong, Blocko secured US$8.9m in funding in June 2018 and went on to secure a further $7.44m in a Series B+ round from Korea’s oldest bank, Shinhan, as well as KEB Hana Bank, LB Investment and Dadam Investment in August 2019. The company is now focusing efforts on bringing the Aergo platform to enterprises in the Middle East, looking to replicate its success in Asia and Europe.
Phil Zamani, co-CEO of Blocko and CEO and founder of Aergo, said: “Our strategic partnership with SEED Group and entry to the UAE will address the most demanding and complex problems being faced by organisations seriously considering entering the advanced digital ecosystem with blockchain solutions. We launched Aergo in response to the growing need for data sharing between industries and companies in areas such as identity verification, document management and the Internet of Things - the same areas in which the Middle East in particular is seeking practical solutions.”