HetaChain, one of the first Blockchain platforms to be launched in MENA region

In May of this year, Vault Investments, a UAE Based company, and Vietnamese MIG Holding announced that they would be forming Relam Investment company, a joint venture to focus on investments across multiple industries including real-estate, energy, oil & gas, trading, healthcare, technology, F&B, retail and others.

Sultan Ali Lootah was appointed as Chairman and GM of the new Dubai based Relam Investments with Nguyn Doi Fong, from MIG as Vice Chairman.

UNLOCK interviewed Mr. Sultan Ali Lootah, Chairman of Relam and CEO of Hetachain, to talk about their latest tech project Hetachain. Hetachain is a fully owned subsidiary of Relam Investments. Hetachain was launched in September in Dubai UAE as the 3rd generation Blockchain platform. As Lootah explained, “Hetachain is a super-fast Dpos +BFT hybrid blockchain network focused on addressing the issues of scalability, speed of transactions, as well as energy consumption that hinders the former blockchain platforms including Bitcoin and Ethereum.”

As a multichain system users can use Hetachain for both public and private Blockchains. The platform consists of Smart Contracts, Hetacoin as a utility coin, hot and cold Heta wallets, Heta App store and blockchain feature enablers and solutions that allows it to be utilized in smart banking, healthcare, e-commerce, trade, telecom, investments cash exchange and remittance. Hetacoin already boasts of transactions fees of 25,000 transactions per second.

Lootah adds, “We have made a strong investment in Hetachain and we are not just any ICO, we are an ICO with value to sell as we have invested heavily in the proper technology, marketing and talented team. Hetacoin is already backed with an actual crowd-funding real-estate project that includes a huge business tower in Vietnam worth $110 billion making it the first to use Hetachain platform.”

As for why Lootah launched in Dubai UAE, “I believe the blockchain ecosystem will flourish in the region and we can already see that even blue collar works are embracing crypto-currencies as a means for remittance and exchange. They UAE will also soon legalize cryptocurrency exchanges under certain structures and the UK as well will be finalizing theirs soon.”

Hetacoin wants to become one of the most popular cryptocurrencies in the world powered by the Hetachain crypto-crowd sale ecosystem where all users are able to launch their ICO projects on the platform. It also wants to be the blockchain platform of choice for private sector and businesses.

To date Hetacoin has raised $130 million of its $520 million hardcap. The Public ICO is set to close on November 1st 2018.


Lara Abdul Malak

Lara has been a journalist and writer in the technology field since her graduation from AUB majoring in political science. She has had career in corporation communications in the telecom sector and was part of the launch of first 3G network in the GCC and MENA region. Since her return to journalism she has been focused with passion on blockchain, tokenization, crypto focusing on the GCC and MENA region. Lara worked with Unlock Blockchain until 2022.

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