Fantom Foundation a DLT dag based ledger company, will be opening an operational presence in Dubai having partnered with The Private Office of Sheikh Saeed bin Ahmed Al Maktoum. Dubai has committed to becoming a world-leader in blockchain adoption as part of Smart Dubai initiative. Dubai aims to be the “first city fully powered by blockchain by 2021.” The Smart Dubai initiative was founded following the vision of Sheikh Mohammad bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai to collaborate with the private and government sectors to empower and deliver an efficient and happier city. Its goal is to achieve efficiency by using blockchain in 100% of applicable government services; creating and enabling a blockchain ecosystem for startups and businesses and to become a global thought leader.
Hisham Al Gurg, CEO of Seed Group and The Private Office of Sheikh Saeed bin Ahmed Al Maktoum, formalised the partnership with Fantom Foundation at a signing ceremony in their Dubai head office with Fantom Foundation represented by Ashton Hettiarachi and David Freuden. FANTOM cconsiders itself as the nervous system for Smart cities, as they have the ability to collect large quantity of high speed data transmission with scalable solutios across multiple smart city service providers.
According to Fantom website it is estimated that smart cities will have 90 billion IoT devices sending data that needs to be stored, be accesible for smart city data driven smart contracts and Dapplications. This partnership is the result of Fantom’s successful trip to Dubai in April and subsequent discussions by the Sydney-based Fantom Innovation Lab, led by Ashton Hettiarachi and David Freuden, along with Technical Advisor Andre Cronje. They participated in the Austrade Blockchain Trade Mission 2019 and were welcomed to Dubai by the Australian Ambassador to the UAE and hosted by Smart Dubai, Dubai Blockchain Center, and the Dubai Future Foundation.
This commercial partnership will allow Fantom Foundation to operate under The Private Office of Sheikh Ahmed bin Saeed Al Maktoum corporate umbrella to engage with Dubai and UAE government and the private sector offering Fantom technology and services across multiple public and private sectors. “We are super excited to partner up with The Private Office of Sheikh Ahmed bin Saeed Al Maktoum to bring innovation and build solutions for Dubai to create new economic opportunities and deliver a better user experience for UAE citizens.” Ashton Hettiarachi, Head of Innovation Lab, Fantom Foundation.
“This day marks the beginning of a new partnership that lays the groundwork for integrating Fantom Foundation’s technology and expertise into the vision of Dubai to become a blockchain city. Given their extensive experience in technology R&D and working with partners. We look forward to seeing how this will significantly benefit the Smart Dubai initiative strategy ,” said Hisham Al Gurg, CEO, SEED Group and The Private Office of Sheikh Saeed bin Ahmed Al Maktoum.