Saudi Ministry of ICT and Consensys Conduct Blockchain Bootcamp

As part of its responsibility for the development of national cadres in the future technologies, the Ministry of Communications and Information Technology (MCIT) conducted a blockchain bootcamp in collaboration with ConsenSys, the global blockchain specialist firm.

The 3-day bootcamp that concluded on Thursday aimed at introducing participants to how blockchain technology works from both a business and strategy perspective, its numerous applications, and the features that make this technology positively disruptive, unique and powerful. It also included a training course, where technologists from several entities received in-depth training on how to startup a development environment, build decentralized applications (dApp) with Ethereum smart contracts and integrate these with web applications.

H.E. Dr. Ahmed Al-Thenayyan, Deputy Minister for Technology Industry and Digital Capacities, affirmed that the bootcamp came within the MCIT’s 2020 action plan and objectives aimed at building a digital environment that attracts, incubates and develops minds and skills in ICTs in order to achieve digital transformation with a view to boost the development process in the Kingdom. He stated the importance of investment in national capacities and cadres as key pillars and enablers of success that ensure the continued development and entrepreneurship in the Kingdom. Furthermore, Al-Thenayyan stated that Modern technologies such as Artificial Intelligence, Internet of Things, Blockchain, etc., are key pillars of the development and progress of countries and serve as major contributor to the Industry 4.0 and the development of GDP.

He also indicated that the Industry 4.0 witnessed today is a basic enabler to achieving Saudi Arabia’s Vision 2030. In addition, he noted that it would require a different business model and a new execution mechanism under the new rules of global competitiveness and the transition from focusing on assets and expertise to relying on the new oil (big data) and modern technologies such as artificial intelligence, rather than developing the new engine (youth and entrepreneurship).

The first day of the course targeted C-level executives and managers across various departments including IT, Strategy, Operations and Legal. Participants learned how blockchain technology works from both a business and strategy perspective, its numerous applications, and the features that make this technology positively disruptive, unique and powerful.

“From guided exercises to coded examples, this bootcamp comes in response to the Ministry's desire to enable the Saudi technical youth to learn about the key advantages of blockchain technology and its mechanism, as well as to adopt it in a responsible manner to make businesses more profitable,” said Lina Hediah, Executive Director, ConsenSys MENA. “The aim of this workshop is to leverage Saudi Arabia’s untapped human resource potential, equip them with knowledge and insight, so they understand the power of blockchain and the current and future potential of its application. In this way we are facilitating a perfect testbed for incubating, maturing and trialing blockchain projects, taking the Kingdom one step further to realizing its 2030 Vision,” she added.