Blockchain startups such as IR4LAB and Verofax are just a few of the startups that are making waves in the region and being recognized during Gitex 2023 held in Dubai UAE.

IR4LAB R4LAB, a Saudi-based company Blockchain and AI specialized startups in disruptive technologies announced on LinkedIn that their startup was selected to join the “Expand North Star Launchpad” accelerator Market entry program. This would as noted enabled them to forge business opportunity in the UAE and beyond given that it is under the auspices of the Dubai Chamber of Digital Economy.

According to Mohamed El Kandri, Founder and CEO of IR4LAB “This is another step towards global expansion after the launch of IR4LAB Africa during Gitex Africa 2023 in Morocco.”

We are thrilled to announce that IR4LAB has been selected for the Launchpad Accelerated Market Entry Program at Expand North Star, to help launch and expand its business in Dubai, another step forward towards Global Expansion after the launch of IR4LAB Africa during Gitex Africa in Morocco.

In addition, Verofax won the GITEX Supernova Web3 and Blockchain Award. As per their linkediN post, “We’re pleased to announce that Verofax has been recognized with the prestigious GITEX Supernova Web3 & Blockchain award at this year’s GITEX Impact’s Supernova Challenge Pitch Competition in Dubai.

UAE based Verofax is a blockchain enabled traceability specialist for consumer packaged goods (CPG) brands. By creating a digital passport for each item in an inventory, and situating all of those passports within a digital twin, the startup makes inventories interactive and entirely traceable

The Supernova Challenge stands as one of the most significant pitch competitions across the Middle East, Africa, and South Asia, offering startups a platform to present innovative solutions.

Saudi Arabia based IR4LAB, a specialized firm in disruptive technologies such as Blockchain and Artificial Intelligence with a MENA presence is implementing the first Blockchain enabled registration and certificate of attendance solution for the inaugural Blockchain Research Institute (BRI) Web3 summit being held on October 19th at the Four Seasons hotel in Riyadh KSA.

IR4LAB will be utilizing its blockchain based solution DocCerts to manage registration, and certificates of attendance for the inaugural Web3 Blockchain and beyond summit organized by the globally renowned Blockchain research Institute.

The Blockchain Research Institute Middle East, with branches all around the world, is known for their yearly summits led by their partner, the legendary Dr Don Tapscott who will be flying for the first time to the Kingdom addressing C-suites audience focusing on the topics of Blockchain for Oil&Gas, Supply chain & logistics, Smart Cities, Banking &Finance and Women in Web3. Organizers plan to hold this event yearly in Riyadh.

The Saudi Arabian events industry size was valued at $6.1 billion in 2021 and is expected to reach $17.6 billion by 2031. The solution implemented will offer, for the first time in the region, a blockchain registration certificate that will be granted to all attendees, be-it online or in-person.

The Web3 Summit: Blockchain and Beyond aims to bring together industry leaders, experts, and stakeholders to explore the advancements and potential of blockchain technology and web3. The summit will discuss five main relevant areas, all of which fall under the Saudi Vision 2030 focusing on the digital transformation which is currently happening in Saudi.

A keynote speech will be given by Dr. Don Tapscott one of the world’s leading Blockchain authors who has been vocal about the impact of technology on businesses and societies. Panels Topics will cover exploring the Use Cases of Blockchain in the Oil and Gas/Energy Market, implementing Blockchain in Supply Chain Logistics: Challenges and Best Practices, innovating Financial Services with Blockchain: Opportunities and Challenges, building the Cities of Tomorrow with Web3 Technology, and empowering Women in the Blockchain Ecosystem: Opportunities in a decentralized world.

Majd AL AFIFI Co-Founder and CEO of IR4LAB states, “Attendees and delegates to the summit will enjoy a novel event experience using blockchain technology. Our blockchain DocCerts solution will not only streamline the registration process and make it easier, simpler and more transparent but it will also grant certificates of attendance to attendees in a digital environmentally friendly fashion. We stand ready and work diligently to make blockchain a part of our everyday lives meeting the Kingdom’s Vision 2030.”

Mohamed EL KANDRI Co-Founder and CTO of IR4LAB, stated, “Blockchain technology can address four significant challenges in the industry: fake tickets, ticket scalpers and bots, security and data. I think that more than ever, it is crucial for organizers and venues to understand their audience better, to tailor specific offers and to create new and more qualified leads. Blockchain registration allows organizers to issue digital tickets that are unique, tamper-proof, and traceable. Additionally, blockchain enables organizers to track the entire lifecycle of a ticket, from its creation to its redemption, which can help prevent scalping and unauthorized reselling.”

Aline Daoud, Managing Partner at the Blockchain Research Institute Middle East added “We take pride in walking the talk. We have been internationally vocal about Blockchain and the successful use cases that are being implemented around the world; with the use of DocCerts solution in our event, we are allowing our attendees to have hands-on experience on a simple yet valid blockchain implementation. We look forward to having our prominent local, regional and international speakers who will be exposing other successful use cases covering the 5 themes that the summit focuses on, all of which are part of the Saudi Vision2030”

According to a report by MarketsandMarkets, the blockchain in the event ticketing market is projected to reach $468.3 million by 2023, with a compound annual growth rate of 39.3% from 2018 to 2023.

Another study by Grand View Research predicts that the global blockchain in the media, advertising, and entertainment market size will reach $1.57 billion by 2030, driven by the increasing adoption of blockchain in the ticketing industry.

The Web3 Summit Blockchain and Beyond will host 500+ delegates from the Gulf region and 70+ experts from all over the world created as a practical initiative aligned with the vision of 2030 objectives by paving the way towards Blockchain adoption under the emerging technologies umbrella set by the Kingdom’s vision.