In the midst of Saudi Arabia, in Jeddah to be exact, a city is emerging, a smart city that is built on Blockchain. The city is called Mayasem
Mayasem is a smart city construction project in the Kingdom of Saudi Arabia that covers 1.6 million square meters strategically located in Obhur, the thriving new heart of north Jeddah.
Saudi based Shamayel United Development Company; a Jeddah based real estate developer founded in 2010, is the master developer of a 1.6 million sqm plot in the district of Obhur north of the city of Jeddah. The development is an integrated sustainable mixed-use community.
The site of the smart city built on Blockchain, lies adjacent to the development of the Kingdom Tower poised to be the world’s tallest skyscraper.
In Mayasem city, Blockchain technology is not just a concept but the core foundation. It is not just the physical features of the city that are future looking and innovatively designed but as per the developers it is integrated into the blockchain.
The technology in Mayasem is providing an improved standard of living and a new level of data control.
As per the Youtube video on Mayasem, “Every brick, every tree, every drop of water is part of a larger interconnected network. It is not just a city it’s a smart City. It uses data to change the way cities are run and that’s why it is the city of the future but what makes Maysem unique is the blockchain.”
According to the developers, the blockchain technology is the lifeblood of this city, it keeps the heart of the city pumping.
The developers state that the entire construction project has DLT technolog woven into its very fabric. It manages the data from the high end apartments to the shopping malls, luxury parks, up to the lagoons.
The technology is giving the people of the city control over their data and in turn a better standard of living. It is reinventing the way cities are run by offering empowerment, transparency ad progress.
Recently, more and more blockchain projects are being built in Saudi Arabia. For example, blockchain enabled Crysp Farms, a UAE based innovator and operator of decentralized blockchain enabled vertical farms, has secured a $2.25 million ‘Pre-Series A’ round structured and led by Gate Capital with participation from regional investors, including those from the UAE and Saudi Arabia, and is planning to launch in KSA.
While most recently, the Hashgraph Association and the Saudi Ministry of Investment signed a partnership to launch a $250 million Deep tech studio for emerging technologies.