Saudi Princess Nourah Al Faisal leads Web3 Blockchain hackathon for youth innovation

Saudi Princess Nourah Al Faisal leads Web3 Blockchain hackathon for youth innovation

Saudi Arabia recently hosted the NEXTG3N Hackathon, led by Her Royal Highness Princess Nourah Al Faisal. The event was held from January 9th until the 11th 2025 at Princess Nourah University in Riyadh. It gathered international innovators alongside Saudi talent to develop groundbreaking solutions at the crossroads of Web3 and gaming using decentralized solutions for learning environments. Selected innovations from the hackathon will be showcased at a side event during the World Economic Forum in Davos.

Her Royal Highness Princess Nourah Al Faisal, Chief Creative Director of Adhlal sponsored the event in collaboration with W3 ff Venture Builder. Adhlal brings deep expertise in empowering Saudi youth through creative ecosystems aligned with Vision 2030, while W3-ff leverages cutting-edge Web3 technologies and venture-building strategies.

The Hackathon included a track under the theme of Web3 and Identity, where participants were asked to create secure, decentralized, and personalized learning environments using Web3 technologies. The track question was “How can decentralized identities empower young learners and creatives in Saudi Arabia to securely access, develop, and share learning content?”

In an article published in Arab News, Princess Nourah was quoted as highlighting how blockchain could provide a secure space for young users fostering their engagement with digital platforms. Princess Nourah remarked on the significance of soft skills in preparing the youth for future challenges, and added: “When we think about the evolving landscape over the next few years, we must consider how to foster innovation and creativity among youth.”

The second track covered Future Skill Development. It centered on building future skills through immersive hackathon experiences.
How can we empower Saudi Arabia’s youth to develop future literacy, creative collaboration, and entrepreneurial thinking while solving real-world challenges?

While the third track covered Games to grow, where participants were asked to design engaging and innovative gaming experiences that enhance creative skillsets, promote problem-solving, and encourage design thinking. How can gaming be leveraged to accelerate the development of young designers in a fun and impactful way?

Speakers at the event included Princess Nourah; Hamad Al-Owaishiq, founder and CEO of the Saudi Youth Society; Tanja Ludwig from W3 ff Venture Builder in Germany; Dalia Samra-Rohte from the Algemeine Handels Kamer; and Xavier Prost from Veridos UAE, one of the event’s sponsors.

42.000,- SAR in prizes were distributed to winning the teams.

UAE Haifin, trade finance fraud platform announces $40.8 billion worth of transactions

UAE Haifin, trade finance fraud platform announces $40.8 billion worth of transactions

Haifin, previously known as UAE Trade Connect, an AI blockchain platform to combat trade finance fraud among the banking sector and non-banking sector, has announced a record-breaking year with nearly $40.8 billion of transactions (150 billion AED).

According to Zul Javaid, CEO of Haifan in a LinkedIn post, “ We identified and prevented hundreds of millions of Dirhams of duplicate financing and fraud for our member involved in lending.”

UAE Trade Connect (UTC), Launched in 2021, was co-created by e& enterprise and the UAE banking industry and offers a technology solution to detect suspicious transactions and prevent fraud and duplication in real time. It uses technologies such as AI, Blockchain and machine learning.

Juvaid added, “Big shout out to our steering committee and wider consortium for their trust and commitment to de-risking the lending environment and increasing accessibility to finance for the UAE economy.”

The members of Haifan platform include UAE Banks Federation, Al Masraf, Abu Dhabi Islamic Bank, Abu Dhabi Commercial Bank, Commercial Bank International, Commercial Bank of Dubai, Dubai Islamic Bank, First Abu Dhabi Bank (FAB), Habib Bank AG Zurich, Invest Bank, Mashreq Corporate & Investment Banking Group, National Bank of Fujairah, RAKBANK, Sharjah Islamic Bank, United Arab Bank, Beehive Fintech, CredibleX, DP World, and Finneva.

In December 2023, Beehive, a peer-to-peer lending platform, became the second non-banking entity to join Blockchain enabled UAE Trade Connect platform, Haifin. Priort to that, DP World Finance platform partnered with UAE trade Connect in November of the same year.

Zul Javaid expressed his interest in expanding Haifan offering to countries across the GCC and MENA regions, including KSA hiring Wissam Massud to lead their international expansion in 2023.

Powered by Blockchain and AI UAE G4Green marketplace is live

Powered by Blockchain and AI UAE G4Green marketplace is live

ImpactGulf, the creators of G4Green.com enterprise solution, UAE-based sustainability technology solutions provider, have announced that Blockchain and AI G4Green sustainable marketplace is now live.

As per the press release, the G4Green Marketplace is a comprehensive sustainability platform that enables green performers to showcase their achievements, and green innovators to promote their products and services. It also allows consumers and businesses to search for green products, services, partners and suppliers. The platform is complemented by a number of unique features to enhance user experience, sharing of ideas and collaboration. This includes a Green Blog where member companies can share news and information on sustainability, including global insights, company news, business requests, opportunities and event announcements.

“Large companies struggle to collect ESG data from their suppliers, whose sustainability performance reflects directly on the companies’ reputation. Meanwhile, the wider business community is overwhelmed by the complexity and breadth of sustainability issues and struggles to find sustainable partners or green products and services,” said Yassin Nasri, CEO and founder of ImpactGulf. “G4Green solves this problem by enabling any company, regardless of size, to progressively obtain sustainability information, receive guidance on building a sustainability profile, and share their green performance and innovations with partners, customers and the world.”

By inviting their corporate network to join G4Green Marketplace, large organisations, government agencies and global institutions can map the ESG performance of their suppliers and rally their entire corporate network around ethical principles. They can collectively onboard them, monitor and drive their sustainability performance and implement incentive tools to accelerate their ESG journey. Initially, the marketplace will be free to all registered companies in the UAE, with plans to expand globally next year.

Commenting on the platform, Nasri said: “G4Green represents a significant milestone in our ongoing commitment to drive positive environmental change and build capacity in the sustainability space. By providing organisations with the tools and resources to streamline their sustainability efforts, we aim to catalyse a broader shift towards greener business practices. Building and operating a sustainable business is not possible without the engagement of the wider business community.”

“Although the platform is free to use, we are pleased to offer significant and permanent discounts on premium membership to all UAE-based companies registered in sustainability free zones such as Masdar City or Expo City Dubai, or members of sustainability initiatives such as the Climate-Responsible Companies Pledge, the Global Compact Network or the SME Climate Hub,” added Nasri.

Vytautas Sabaliauskas, CTO at ImpactGulf, added, “The platform’s sustainability capabilities are powered by advanced technologies, including AI-driven data analytics and blockchain-enabled traceability, to ensure the integrity and reliability of sustainability initiatives. The platform also uses AI to detect false sustainability claims, helping companies avoid greenwashing by scanning social media posts for sustainability claim violations before they are posted.”

ImpactGulf is the host of the 14th National Dialogue for Climate Ambition (NDCA), and a signatory to the UAE Climate-Responsible Companies Pledge. It is also a participant in the United Nations Global Compact, and an officially recognised member of the Greentech Alliance. ImpactGulf was selected by Shell Middle East and StartUpbootcamp for the Shell StartUp Engine UAE 2022.

UAE Phoenix Group expands its Bitcoin mining to USA

UAE Phoenix Group expands its Bitcoin mining to USA

UAE Phoenix Group PLC listed on the Abu Dhabi Securities Exchange (ADX: PHX), has launched its 50MW mining facility in North Dakota in the USA.

Fully operational, the site will contribute an impressive addition of more than 2.7 exahashes (EH) to Phoenix’s global hash rate. This is an initial step in expanding Phoenix Group’s UAE mining capabilities and investments in the United States.

“The investment and opening of the Dakota site is an important step in our strategy to grow our mining capacity globally and in the United States in 2025 and beyond. Building and energizing a 50MW site in less than 5 months is a testament to the extraordinary capability of our engineering and operations teams. This milestone reflects the speed, precision, and innovation that set Phoenix Group apart in the competitive Bitcoin mining industry,” said Munaf Ali, CEO of Phoenix Group.

Reza Nedjatian, Chief Executive Officer of Phoenix Group’s Global Mining Operations, added, “The United States has always been a key hub for our mining operations and the opening of the Dakota site is another major step in Phoenix Group expanding its investment in this key market.”

The North Dakota site represents a strategic milestone in Phoenix’s mission to scale its operations sustainably and efficiently. The new facility leverages advanced technologies and optimized designs to maximize energy efficiency and performance, reinforcing the company’s leadership in the fast-evolving blockchain space.

As the energization process continues, Phoenix remains committed to operational excellence and advancing the adoption of blockchain technology worldwide.

The group boasts a 765MW mining operation with more operations globally, and fuel growth through strategic collaborations and innovation. It also operates multiple mining facilities in the US, Canada, CIS, and the UAE, with each unique company operating in one of four distinct verticals: Mining, Hosting, Trading, and Investments.
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Abu Dhabi Chamber of Commerce to launch blockchain working group

Abu Dhabi Chamber of Commerce to launch blockchain working group

The Abu Dhabi Chamber of Commerce and Industry (ADCCI) plans to launch seven new working groups aimed to develop the private sector, promoting leadership and boosting Abu Dhabi’s business ecosystem that include AI, Blockchain and digital assets, as well as digital gaming and others.

As per the press release, these working groups focus on enhancing the private sector’s capacity, reflecting their aspirations, and channelling their voice to relevant stakeholders across key economic sectors.

The working groups explores seven key fields including precious metals and jewellery, chemicals production, Artificial Intelligence (AI), interactive and digital gaming, banking and financial services, blockchain and digital assets, as well as media, entertainment and gaming.

The Abu Dhabi Chamber of Commerce previously identified over 126 opportunities for the private sector to develop, through their engagement with the current working groups that span across various sectors. These working groups often host group meetings and workshops to discuss topics related to each sector and enhance their contribution to socio-economic development.

His Excellency Shamis Ali Khalfan Al Dhaheri, Second Vice Chairman of ADCCI ,Managing Director, said, “Through the new seven working groups, the Abu Dhabi Chamber aims to contribute to the Emirate’s economic aspirations by fostering a dynamic and diverse business ecosystem, solidifying Abu Dhabi’s position as the leading hub for business and investment.”

Al Dhaheri emphasized the Chamber’s commitment to coordinating with all stakeholders to provide a platform that fosters cooperation, knowledge exchange, and opportunities for business growth in Abu Dhabi.

To further strengthen the role of startups in the national economy, the Chamber is also establishing a dedicated team that brings together representatives from startups, innovation centres, business incubators and accelerators, venture capitalists, Research and Development (R&D) centres, and the public sector to address their challenges.

Estonia and UAE to enhance healthcare sector in UAE with Blockchain security solutions

Estonia and UAE to enhance healthcare sector in UAE with Blockchain security solutions

The Estonian Ministry of Social Affairs has partnered with the UAE to develop innovative solutions in the digital health sector using blockchain technology.

As per the press release, the partnership aims to address future challenges and create added value in the UAE’s healthcare system, leveraging Estonia’s leadership in digital health to improve the quality and efficiency of medical services in the UAE. It is designed to help the UAE adopt advanced digital systems, including e-prescriptions, artificial intelligence, and blockchain technology, to improve services and ensure the security and confidentiality of health data.

Janika Merilo, Head of the Digital Health and Care Department at the Estonian Ministry of Social Affairs, expressed her enthusiasm for the collaboration, saying, “We are pleased to announce this strategic partnership with the UAE, which represents a global model for digital transformation. We are committed to sharing our expertise in digital health to support the UAE’s efforts in developing a sustainable healthcare system for the future.”

Merilo emphasized that Estonia’s experience in digital transformation has shown how technologies like e-prescriptions and blockchain can revolutionize healthcare delivery.

Since adopting a comprehensive digital health system in 2008, Estonia has become a world leader in this field, managing over 40 million electronic health records. The system facilitates more than 2.3 million monthly interactions between doctors and patients, with 99% of prescriptions issued electronically. This digital approach has saved Estonia an estimated 2% of its annual GDP by reducing paperwork and enhancing efficiency.

Estonia’s use of blockchain technology to protect health data from cyber threats aligns with the UAE’s emphasis on improving cybersecurity in healthcare systems. This collaboration aims to build a safer and more sustainable health system in the UAE.

Estonia and UAE will work together to enhance security through blockchain will foster trust in the healthcare system, and ongoing innovations will contribute to building a sustainable, advanced healthcare model for the UAE.

Lebanese VERO Labs partners with Avalanche blockchain for fan based market

Lebanese VERO Labs partners with Avalanche blockchain for fan based market

Lebanese founded, VERO Labs, a social technology company operating the ad-free social network VERO™, will launch a custom L1 blockchain on Avalanche to unlock the multi-trillion-dollar fan-based asset market, offering creators and superfans new ways to connect, engage, and invest in each other’s success.

VERO’s L1 blockchain will power its Community Finance (CoFi) model and allow creators, sports franchises, and IP owners to raise capital directly from their fans. This on-chain model will enable fans to invest in and benefit from the success of creators, sports teams, music artists, and media franchises. The recent Avalanche9000 testnet upgrade will improve transaction speed, security, and scalability for VERO users.

“Our investment in VERO marks a key milestone for on-chain community-driven finance,” said John Nahas, Chief Business Officer at Ava Labs. “VERO’s platform allows creators to directly connect with their fans and build lasting value. We see great potential for this model to empower superfans in new ways while expanding and connecting communities. VERO is at the forefront of making this vision a reality.”

VERO Labs works with licensed intellectual property (IP) owners across sports, film, TV, music, and more to facilitate community participation. Creators can offer token-gated experiences, exclusive content, and limited-edition digital assets. With banking, broker-dealer, and ATS licenses, VERO Labs enables the trading of securities, crypto, and novel digital assets, providing an ecosystem where creators can tokenize their assets and fans can invest in their success.

“Building on Avalanche strengthens our ability to give creators new tools to connect with their fans and unlock powerful new revenue streams,” said Ayman Hariri, CEO of VERO Labs. “By integrating VERO’s platform with Avalanche’s advanced blockchain technology, we’re empowering creators to build more resilient, fan-driven ecosystems.”

As per the press release, the collaboration will expand opportunities for creators to earn through fan-driven models, allowing more creators to engage with their communities in financially rewarding ways. Fans will be able to become stakeholders in the success of creators, teams, and franchises across various industries, from digital media to sports and entertainment.

UAE among the top 10 global Blockchain countries with 340 patents

UAE among the top 10 global Blockchain countries with 340 patents

In a recent study by ApeX exchange the UAE came in among the top 10 globally ranked countries for blockchain and crypto technology. The UAE had a score of 73.2 with 340 blockchain patents. UAE also has 414 blockchain-related jobs, providing opportunities in a budding ecosystem.

Singapore took the lead, with the highest composite score of 85.4, with over 2,400 jobs related to blockchain technologies. Additionally, it has one of the largest concentrations of crypto exchanges globally, with 81 platforms.

Hong Kong ranks second in blockchain and cryptocurrency technology with a composite score of 82.7. Its financial infrastructure integrates blockchain seamlessly, supported by more than 1,100 jobs in blockchain technologies and a strong presence of crypto exchanges.

Estonia ranks third with a composite score of 81.5. It has the smallest population among the countries studied but still achieves impressive results with 95 blockchain patents, 149 blockchain-related jobs, and 52 crypto exchanges.

Switzerland secures fourth place in blockchain and cryptocurrency technology, with a score of 80.2. The country’s leadership in decentralized finance is backed by 440 blockchain-related jobs and 32 crypto exchanges.

The United States is fifth, scoring 79.8, and leading the way in blockchain and cryptocurrency technology, achieving the highest numbers across all key metrics. With 32,000 blockchain patents and more than 17,000 jobs related to blockchain available. The country hosts 166 crypto exchanges, providing platforms for trading and utilizing cryptocurrencies.

Canada ranks sixth in blockchain and cryptocurrency technology, with a score of 77.3. The country offers over 1,200 blockchain-related jobs, which shows the demand for skilled professionals in the sector. It also has 1,200 blockchain patents, while its 32 crypto exchanges provide ample platforms for cryptocurrency transactions.

Phoenix Group UAE crypto entity Founder steps down

Phoenix Group UAE crypto entity Founder steps down

Phoenix Group, a cryptocurrency, blockchain, and Web 3 company and the first UAE home-grown cryptocurrency firm to be listed on the Abu Dhabi Securities Exchange, announced that is former CEO and co-founder, Seyed Mohammad Alizadehfard (Bijan), has stepped down and been replaced by Munaf Ali, a co-founder as well who previously held the position of Group Managing Director.

As per the press release, Seyed Mohammad Alizadehfard (Bijan), will step down to focus on expanding and managing his investment fund, Cypher Capital but will continue to be involved with Phoenix Group as a major shareholder and as a trusted key advisor to Phoenix.

Munaf Ali who has been well versed in the crypto, digital asset and blockchain field, will focus his efforts on cultivating strong relationships with institutional players to capitalize on the opportunities that lie ahead in the evolving cryptocurrency and blockchain landscape. Phoenix is already working with leading investment banks and crypto advisers on possible dual listing opportunities in favourable international jurisdictions for 2025.

“I want to extend my deepest thanks to Bijan for being my co-founder and for his successful stewardship in guiding Phoenix Group from a private company to our listing on the ADX. We have worked together since we founded Phoenix and grown it into a listed billion-dollar company. Our strong relationship will continue, a CEO could not wish for a better advisor who will continue to bring opportunities to our door.”

“Taking on the role of CEO at Phoenix Group represents an incredible opportunity to lead this forward-thinking company during a time of unprecedented growth,” continued Munaf. “My extensive experience and background in banking and finance equips me to navigate the complexities of our industry as the worlds of traditional and digital assets move closer together, allowing us to position Phoenix Group for success. Looking ahead, we are exploring dual listing opportunities including on NASDAQ in 2025 as we continue to build our global presence.”

Seyed Mohammad Alizadehfard, the outgoing CEO and co-founder, will continue to play a vital role in the company as a valued advisor and shareholder. “While I transition from the CEO role, I am dedicated to supporting Munaf and the team as we embark on the next stage of Phoenix’s journey. My knowledge and expertise in cryptocurrency, combined with Munaf’s institutional background, will ensure that Phoenix Group remains at the forefront of our industry both here in UAE and on the global stage” he stated.

TON Blockchain registers DLT Foundation in ADGM UAE

TON Blockchain registers DLT Foundation in ADGM UAE

The TON Blockchain has registered its DLT Foundation at ADGM in UAE under ADGM’s DLT Foundations framework.

The TON DLT Foundation aims to contribute to the adoption of TON Blockchain with a strategic focus on expanding the network’s presence in the Middle East and North Africa (MENA) as well as Asia Pacific regions.

It wants to reach 500 million users in MENA and APAC by 2028.

Recently OKX Ventures, the investment arm of leading crypto exchange and global onchain technology company OKX, announced a $5 million investment in TON Ventures, a venture capital fund dedicated to accelerating growth within The Open Network (TON) blockchain ecosystem. The investment is aimed at establishing a network of experienced builders to develop best practices for TON applications.

This move complements OKX Ventures’ recently launched $10 Million Telegram Growth Hub, in partnership with The Open Platform and Folius Ventures, by focusing on technical expertise and development standards. With direct access to Telegram’s 950 million monthly active users and successful mini-apps like Notcoin, OKX Racer and Catizen, TON continues to demonstrate strong potential for mass adoption.

Having secured $40 million in initial funding, TON Ventures combines deep ecosystem expertise through its founders Ian and Inal. The fund typically deploys investments of up to $500,000 for early-stage projects, while maintaining flexibility for larger opportunities. In the coming months, TON Ventures will focus on supporting the emergence of midcore gaming experiences, an expansion of monetization tools available to creators and the continued growth of the decentralized finance sector on TON.