Softbank, Saudi Arabia To Invest $100 Bln in Tech Revolution, Fintech Startups First to Benefit
Softbank and Saudi Arabia have partnered to launch a $100 bln technology investment fund, which will focus on emerging tech firms and unorthodox markets outside the realm of common investments such as oil and real estate. Both Softbank and Saudi Arabia’s Public Investment Fund (PIF) have agreed to provide $25 bln and $45 bln respectively to the Softbank Vision Fund, while the remaining $30 bln will be invested by an undisclosed group of investors. Masayoshi Son, Chairman & CEO of Softbank stated: “With the establishment of the Softbank Vision Fund, we will be able to step up....
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The Kingdom of Saudi Arabia is looking into the possibility of implementing blockchain technology across its government as well as allowing the use of cryptocurrencies. However, an official said the kingdom can only successfully build blockchain-based solutions if it hires people that are proficient in this technology.
Government Needs to Hire Talented Individuals
Saudi Arabia is considering putting into action the use of cryptocurrencies in the kingdom as well as the adoption of blockchain, a report quoting a government official has said. In addition, the report says the....
Saudi Arabia’s King Faisal Specialist Hospital and Research Centre recently became one of the country’s early adopters of blockchain technology after it implemented a “digital credentialing solution.” Saudi Arabia’s Blockchain Goal The Saudi Arabian medical institution, King Faisal Specialist Hospital and Research Centre, (KFSHRC) recently completed a deployment of blockchain tech when it implemented “a digital credentialing solution” for all residents that use its facilities. The implementation was carried out via the recently launched....
The Saudi Arabian central bank has reportedly appointed Mohsen Al Zahrani as the lead of the bank’s virtual assets and digital currency project. The emergence of the United Arab Emirates (UAE) as the regional crypto hub is believed to have forced authorities in Saudi Arabia to consider formally regulating cryptocurrencies.
Saudi Arabia’s Changing Position on Crypto
According to a report, the Saudi Arabian central bank has selected Mohsen Al Zahrani to lead its virtual assets and digital currency program. The appointment of Al Zahrani, according to the report,....
Saudi Arabia is a significant market for digital currencies with the country's favorable regulatory climate, large consumer base and increasing interest in cryptocurrencies, a new KuCoin survey says. The high degree of penetration and adoption of crypto in Saudi Arabia makes it an important market for digital currencies, demonstrating the potential for expansion in the Middle East and North (MENA) region.According to a survey conducted by crypto exchange KuCoin, around 3 million Saudi Arabians (or 14% of the adult population aged 18 to 60) have become crypto investors who, as of May 2022,....
Blockchain is among six emerging technologies that will be prioritized by the Kingdom of Saudi Arabia (KSA)’s IT decision makers in 2022 and beyond, according to a recent study. Effect of Covid-19 The government of Saudi Arabia’s IT decision makers have named blockchain as one of the six technologies they plan to prioritize in 2022 and beyond, a survey study has found. In addition, the study found that an overwhelming majority of the decision makers agreed that Covid-19 has accelerated Saudi Arabia’s digital transformation. According to a Datatechvibe report, which....