MENA Blockchain innovator ArabianChain raises $817,000

ArabianChain receiveS funding from Ahmad Abdullah Bughshan 

ArabianChain, the first company in the MENA region to develop a public and decentralised platform for Smart Contracts on Blockchain, has raised funding of around $817,000 USD (3 million AED) in the latest round. The investor is Eng. Ahmad Abdullah Bugshan, Board Member at the Arabian Bugshan Group and Vice President at House of Invention Intl., a prominent firm in the field of telecommunications in the region, serving various private and public sectors, ranging from Telcos to Ministries, with a wide array of global affiliations.

Eng. Ahmad Abdullah Bugshan said: “The region, particularly the Gulf, is moving strategically towards technology-enabled economies and this is impacting business and transactions across the Government and private sector. I believe that the region will lead the way when it comes to Blockchain, and ArabianChain is well-positioned to drive innovation and adoption of this disruptive technology. I am proud to be associated with the team at ArabianChain, and to help direct the business to be in line with the strategic and transformational visions of the GCC Governments and leadership.”