a blockchain is a database that stores digital format information about cryptocurrency systems such as Bitcoin and Etterium. Blockchains are essential components in guaranteeing the security and fidelity of data records in cryptocurrency transactions. Blockchains store the collected information in groups, also known as blocks. After each block is filled, the data collection continues to a new connected block forming a chain of blocks also known as the blockchain.
With the rise of startup businesses in the Middle East in recent years, organizations have started to feel the need to adopt new technologies in the business world. The increasing growth of exchanges in the Middle East region has created a new market for blockchains and cryptocurrencies to expand their reach. According to International Data Corporation, 2021 has seen a 50% rise in blockchain solutions from organizations in the MENA region compared to 2020. According to IDC, this rate will rise 48% more until 2024.
Orbs is a leading pioneer in blockchain infrastructure. Located in Tel Aviv, Israel, Orbs was founded in 2017 by Daniel Peled, Netta Korin, Tal Kol, Uriel Peled. This public platform offers an infrastructure to businesses looking for an online source of verification as a strategy. Orbs’ hybrid consensus architecture is connected to all Layer 1 and Layer 2 chains, like BSC, Ethereum, Solana, and Avalanche, and their related apps. They were named Gartner’s “Cool Vendor in Blockchain Technology” in 2018. Orbs was developed by a team of more than 60 experienced people who managed to build a platform that offers blockchain scalability by using blockchain virtualization and randomized proof-of-stake (RPoS). Their only form of payment is Orbs tokens. Orbs also provides a secure platform to DApps to create their separate virtual chain for maximum performance.
Valid Network is a private blockchain cybersecurity and intelligence startup. Located in Be’er Sheva, Israel, Valid Network was founded by Gilad Eisenberger, Kfir Nissan, in 2018. This platform offers protection to blockchains, crypto pioneers, enterprises new to the blockchain ecosystem, and the blockchain community with the agenda to Deriskify blockchain. Powered by AI engines, Valid Network combines traditional cyber security systems with blockchain protocols. This cybersecurity company allows its users to protect themselves from internal and external errors that could cost them billions of dollars.
Pravica is the world’s first truly private and secure communication platform. Founded in 2019 by Mohamed Abdou, Pravica is located in Cairo, Egypt. Pravica is a private blockchain platform that aims to help increase user privacy and security, especially in the communication industry, using the high standard WEB 3.0 Email Service Provider (ESP). As the first blockchain Email Service Provider in the MENA region, Pravica managed to secure an undisclosed direct investment from the Swiss Crypto Valley VC firm and plans to expand its user count to 5000+ enterprises with an average of 500,000 users combined.
Arabianchain Technology is the first public, decentralized and consensus-driven blockchain in the MENA region. Located in Dubai, United Arab Emirates, Arabianchain was founded by Mohammed Alsehli in 2016. This technology-based blockchain startup allows its users global access and self-execution of smart contracts, decentralized Apps development, and token construction, transaction, and tracking through thousands of connected, secure networks and devices. ArabianChain uses DBIX as its main currency because it is the first minable cryptocurrency in the Middle East. ArabianChain Technology’s open-source project allows its users to build and distribute any type of currency with any complexity they desire.
IR4LAB is a tech-based blockchain startup. Located in Dhahran, Saudi Arabia, IR4LAB was founded by Majd Alafifi, Mohamed El Kandri, in 2019. This Saudi-based startup recently secured a $1.5 million seed investment round from Aramco’s entrepreneurship arm, Wa’ed. IR4LAB offers corporations such as Aramco to find fraud certification using blockchain technology. Their goal is to expand their customer base and product coverage to a more professional environment. Their product, DocCerts, allows professional and technical certification providers and training centers to issue verifiable certifications and will enable companies to determine genuine certificates from frauds. This company also offers educational services to increase awareness and professional workforces. According to IR4LAB’s website, they currently support five clients across four projects.
Mobilechain is a blockchain platform for mobile apps. Founded in 2018 by Gil Dudkiewicz, Mobilechain is located in Netanya, Israel. The New York-based mobile media and data company, StartApp, launched Mobilechain in 2018 to delve into blockchain technology and revolutionize the mobile app developing Network. StartApp intends to use the largest market globally, the mobile phone, to accelerate the mass market use and distribution of blockchain technology. Mobilechain enables developers to integrate a secure crypto wallet, Build a crypto-economy and fabricate a faster smart contract through faster peer-to-peer transactions with users.
Valoro is an online blockchain platform for creating blockchain applications. Located in Heliopolis, Egypt, Valoro was founded by Maged M. Eljazzar in 2019. This online platform offers easy, user-friendly interfaces to developers and business users with no coding skills to create their own blockchain applications. Valoro also allows its users to use smart contracts, plugins, and themes from their website and interface with other systems and extend their application’s reach in several cloud vendors.
Etherty is an online trading and crowd-funding global platform for real estate. Founded by Murtaza Khan and Adnan Naeem in 2017, Etherty’s office is located in Dubai, United Arab Emirates. Etherty’s unique goal is to revolutionize the global real state market and allow people to invest as little as $1000 in local and international real state markets. Etherty allows its users to gain access to properties via tokenized assets that follow the rules of the stock market exchange. By using transparent, secure, and authentic transactions through blockchain and smart contracts, Etherty manages to surpass the difficulties of real estate purchasing. Etherty offers ETY tokens that follow the ERC20 protocol, compatible with similar standardized wallets.