UAE – Mubasher: Samsung-based Blocko, a leading blockchain provider based in South Korea, has been launched in the UAE through a strategic business and technology partnership with SEED Group, a member of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum.

With its newly-launched hybrid public-private blockchain, Aergo, Blocko seeks to accelerate the digital transformation process in the Middle East for both businesses and residents, according to a press release on the behalf of Blocko and SEED Group.

The South Korean company aims at replicating its success in Asia and Europe by introducing the Aergo platform to enterprises in the Middle East, set to be showcased at the GITEX Technology Week to be held in Dubai from 6 to 10 October 2019.

Phil Zamani, co-CEO of Blocko and CEO and founder of Aergo, said: “Our strategic partnership with SEED Group and entry to the UAE will address the most demanding and complex problems being faced by organisations seriously considering entering the advanced digital ecosystem with blockchain solutions.”

“We launched Aergo in response to the growing need for data sharing between industries and companies in areas such as identity verification, document management and the Internet of Things - the same areas in which the Middle East in particular is seeking practical solutions,” Zamani added.

In June 2018, Blocko secured $8.9 million funding after marking a significant presence in South Korea, the UK, and Hong Kong.

The blockchain provider also secured a further $7.44 million in a Series B+ round from Shinhan, as well as KEB Hana Bank, LB Investment, and Dadam Investment in August 2019.

Blocko currently serves over 20 enterprise clients with more than 25 million end-users daily.

“The UAE and the wider Middle East region are constantly seeking advanced blockchain solutions for government and digital services. And so, we recognised the partnership with Blocko and Aergo as a solution to satisfy the increasing need for companies working at the highest level of scale and security,” CEO of SEED Group and The Private Office of Sheikh Saeed bin Ahmed Al Maktoum Hisham Al Gurg said.

It is worth noting that the UAE Government had launched the Emirates Blockchain Strategy 2021 in April 2018 with the aim to take advantage of blockchain technology and transform 50% of government transactions into the blockchain platform by 2021.