Oman Ministry of Commerce reports on Blockchain pilot to track movement of goods

Oman Ministry of Commerce reports on Blockchain pilot to track movement of goods

In a report published by the Ministry of Commerce, Industry and Investment Promotion (MoCIIP), and put together by Oxford Business Group (OBG) the government highlights high-growth opportunities in key sectors, including transport and logistics and Blockchain pilot for tracking movement of goods.

As per the report, the logistics sector in Oman aims to contribute $36.4 billion to the national economy by 2040 positioning it as the second highest economic contributor after hydrocarbons. The sector in 2023 contributed

Growth targets:

  • The logistics sector aims to contribute OR14bn ($36.4bn) to the
    national economy by 2040, which would position it as the secondhighest economic contributor after hydrocarbons
  • As of 2023 the sector contributed approximately 7% to GDP
  • Seeking to create up to 300,000 new logistics jobs by 2040
  • Sector currently provides over 79,000 jobs
  • Investment growth projected for green supply chains, lastmile delivery and contactless delivery solutions

Beyond decarbonisation, the wider transportation sector is also being primed for investment, according to the report. These investment opportunities are linked to recently unveiled plans to, for example, transform creeks into marinas and business centres, develop mining jetties for the export of gypsum and limestone, support ship repair and scrapping activities, catalyse the growth of multipurpose ports, re-export and repackaging hubs, and e-commerce fulfilment centres, as well as foster the development of airport free zones and new dry ports.

In the logistics sector, investment growth is projected in green supply chains, last-mile delivery and contactless delivery solutions. Also prospective for investment are opportunities linked to the expansion of regional aviation connections and partnerships in Africa and China, while strengthening ties with European and South-east Asian markets.

Eng Khamis bin Mohammed al Shammakhi, Under-Secretary of the Ministry of Transport, Communications and Information Technology for Transport, was quoted in the report as saying that Oman is piloting blockchain technology to track the movement of goods within economic zones. He noted, “Oman is implementing innovative measures to strengthen its logistics infrastructure. The country is piloting blockchain technology to track the movement of goods within economic zones, significantly improving lead times. The Royal Oman Police’s Customs clearance system mandates that goods must be cleared within two hours, a measure intended to boost efficiency. Additionally, a port community system has been introduced to streamline procedures, reducing the time required for operations from two days to two hours – as well as minimizing fees. These advancements help to enhance the appeal of Oman’s logistics sector to foreign investors.”

Additionally, Oman is improving last-mile logistics by introducing supportive technologies and stronger regulations. “Efforts include new regulations that require operators to register through a central platform in a move to ensure compliance and streamline inspections. The entry of investors like technology firm Yandex – which will provide an application that combines taxi services with last-mile delivery – showcases Oman’s commitment to modernizing this segment. These steps aim to make the logistics chain more efficient and attractive to investors by ensuring delivery solutions that are both reliable and scalable,” Al Shammakhi added.

In 2024 Advanced Horizon Markets s.r.o, which is developing a Blockchain and AI enabled GlobalTrade project, set up its headquarters in Oman after an investment firm acquired 80% of its shares during its seed phase, valuing the project at 1.1 million Euros.

The platform is designed to offer robust business verification, smart contracts, integrated quality control, comprehensive shipping solutions, and real-time tracking, all powered by advanced technologies such as blockchain and AI.

Oman set to host DLive 2025 event for AI Blockchain and IoT

Oman set to host DLive 2025 event for AI Blockchain and IoT

Oman is set to host DLive 2025 event covering the topics of AI, Blockchain, IoT, Automation, and Digital Transformation. Organized by Muscat Media Group, Gulf Leaders Circle, Times Of Oman and Al Shabiba, the event is set to bring together visionary leaders, tech pioneers, investors, and government officials, the event will explore cutting-edge innovations driving business success, economic growth, and digital transformation across industries.

As part of this transformative event, the DLive Awards 2025 will recognize trailblazing individuals, groundbreaking innovations, and leading organizations shaping the future of technology. These awards honor excellence in digital transformation, automation, fintech, cybersecurity, and beyond, inspiring the next wave of industry advancements.

With technology at the core of economic progress, DLIVE 2025 serves as a catalyst for innovation, investment, and collaboration. The event will feature:

Inspiring Talks & Panels – Learn from top tech and business leaders.
Powerful Networking – Connect with key decision-makers, industry experts, and investors.
DLIVE Awards – Celebrating innovation and leadership in digital transformation
The DLive Awards: Recognising Excellence in Innovation
Aligned with Oman’s Vision 2040, the DLiveAwards 2025 celebrate the visionaries and innovators shaping a knowledge-based economy through technological advancements. Categories include:
AI & Automation Excellence
Blockchain & Fintech Innovation
Smart Infrastructure & IoT Leadership
Cybersecurity & Data Privacy Pioneer
E-commerce & Digital Retail Excellence
HealthTech & Telemedicine Advancement
Sustainability Through Technology
Human-Centered AI & Ethics Leadership
Robotics & Industry 4.0 Transformation
Education & Digital Skills Development

Oman gets secure digital storage with Gulfdox and Blockchain Serenity

Oman gets secure digital storage with Gulfdox and Blockchain Serenity

Oman based Gulfdox, a provider of physical storage, data digitization, and storage software solutions, has collaborated with Serenity, a blockchain-based secured digital storage and biometric access solution provider.

As per the press release, the partnership marks a historic milestone as the first collaboration of its kind in Oman, positioning the nation at the forefront of advanced technological innovation in line with Oman Vision 2040. Gulfdox will integrate Serenity’s cutting-edge blockchain technology into its service portfolio, offering clients a robust, secure, and future-ready digital storage solution.

Leveraging Serenity’s expertise, Gulfdox will provide on-chain storage with biometric access, ensuring unparalleled security and efficiency for its esteemed clients, which include Government entities and leading corporates in different sectors across the GCC.

This partnership reflects Oman’s commitment to embracing emerging technologies that align with Vision 2040’s goals of economic diversification and digital transformation. Gulfdox is introducing blockchain-powered solutions for secure data management.

Faris Al Balushi, Executive Director of GulfDox, stated, “We are proud to lead the way in Oman by bringing blockchain technology into the realm of data storage. This collaboration with Serenity enables us to offer solutions that are not only secure and efficient but also aligned with the future needs of our clients. Together, we are setting a new benchmark for innovation in the region.”

Venket Naga, CEO of Serenity, added, “Our mission has always been to provide secure, scalable, and accessible blockchain solutions for Data storage. Partnering with Gulfdox allows us to bring this vision to Oman and the GCC which are extremely important markets for Serenity, using this Partnership we are enabling institutions to safeguard their data with the most advanced technologies available today. And reinforces Serenity’s position in the B2B enterprise segment. This Partnership, by combining GulfDox’s trusted expertise and local presence with Serenity’s state-of-the-art blockchain capabilities, will redefine secure data management for years to come. and will help Serenity to continue our journey towards creating innovative technologies for mass adoption.”

Sreekumar. P, Country Manager, GulfDox Stated that GulfDox is Oman’s a leading and dynamic provider of physical and digital storage solutions, it mainly serves B2G and B2B segment, with client’s portfolio of Government, Semi-Government and Corporates in Oman and across the GCC. With a focus on innovation and reliability, GulfDox is a trusted partner in secure data management.

Future Fund Oman supports Blockchain startup Nashid

Future Fund Oman supports Blockchain startup Nashid

Future Fund Oman (FFO), an investment initiative under Oman Investment Authority (OIA), announced its first batch of approved investment projects which included a Blockchain startup, Nashid, a digital identity platform.

With a combined value exceeding US$ 2 billion, these projects include US$ 1.6 billion committed by foreign investors and US$ 571 million contributed by FFO. The investments are expected to create more than 1,600 direct employment opportunities, marking a significant step forward in Oman’s economic diversification and development strategy.

Future Fund Oman launches first wave of investment projects worth over US$ 2 billion. The approved projects span ten key sectors, including technology, manufacturing, tourism, renewable energy, and electric vehicles. In addition, small and medium enterprises (SMEs) and startups will play a prominent role, with investments targeting food, health, financial technology, e-commerce, and more. This comprehensive approach reflects FFO’s commitment to fostering innovation and growth across a broad spectrum of industries, ensuring that both large-scale ventures and emerging businesses contribute to Oman’s economic progress.

Mulham Al Jarf, Deputy President for Investments at Oman Investment Authority, stated that these projects underscore the Fund’s dedication to fulfilling its strategic objectives. These include stimulating local economic growth, fostering collaboration with the private sector, attracting foreign investments, and creating opportunities for Omani businesses and job seekers. He emphasized that these projects represent just the beginning of FFO’s efforts since its establishment in January 2024.

Among the approved projects are transformative initiatives that position Oman as a leader in innovative industries. Notable projects include the United Solar Polysilicon Plant in the SOHAR Port and Freezone, which will be one of the largest polysilicon production facilities in the world and the first of its kind in the Middle East. This facility will produce 100,000 tonnes of polysilicon annually, a critical component for renewable energy industries such as solar panel manufacturing.

Other major partnerships include the IDG Oman Fund, developed in collaboration with China’s IDG Capital, which will focus on ICT, renewable energy, and electric vehicles. Additionally, FFO has also partnered with EW Partners to establish the EWP Oman Fund, which targets key sectors such as ICT, energy, tourism, and agriculture.

Future Fund Oman is also supporting a range of SMEs and startups in partnership with fund managers like Tanmia, ITHCA, Omantel, and Cyfr Capital. These include IO Kitchen, an innovative cloud kitchen featuring over 30 virtual brands; Bima, an online insurance brokerage service; and Qpay, the first licensed Omani entity offering a “buy now, pay later” service. Other groundbreaking projects include BcLear Aligner, an AI-powered solution for dental braces; Nashid, a blockchain-based digital identity platform; and Antom, a digital financial platform that enhances the capabilities of Oman’s fintech ecosystem.

FFO was established in collaboration with the Ministry of Finance with a capital of $5.2 billion, allocated over five years from 2024 to 2028. The Fund strategically excludes investments in oil, gas, and real estate, focusing on growth-oriented sectors aligned with Oman’s Vision 2040.

Interested investors are invited to submit proposals through the dedicated platform, https://futurefund.om/futurefund/

Blockchain Global Trade Project sets up headquarters in Oman

Blockchain Global Trade Project sets up headquarters in Oman

Advanced Horizon Markets s.r.o. developing its Blockchain and AI enabled GlobalTrade project, has set up its headquarters in Oman after an investment firm acquired 80% of its shares during its seed phase, valuing the project at 1.1 million Euros.

As per the press release, the investment marks a pivotal moment for GlobalTrade, propelling it into a new era of growth and expansion. As part of this development, the headquarters of the GlobalTrade project will be relocated to Muscat, Oman.

GlobalTrade aims to redefine international trade operations through digital innovation, transparency, compliance, and sustainability. With this investment, efforts to create a comprehensive digital marketplace that serves the global business community will be accelerated. The platform is designed to offer robust business verification, smart contracts, integrated quality control, comprehensive shipping solutions, and real-time tracking, all powered by advanced technologies such as blockchain and AI.

Advanced Horizon Markets will retain 15% of the shares, with a three-year cliff, while an additional 5% will be distributed among dedicated technical team members. Advanced Horizon Markets specializes in creating technology-driven solutions that push the boundaries of what’s possible. The company is committed to enhancing global trade through cutting-edge digital platforms and services that promote innovation, sustainability, transparency, compliance, and simplified global trade.

Partnerships with international organizations, financial institutions, insurance companies, tech startups, and logistics providers underscore the commitment to making GlobalTrade a one-stop solution for all global trade needs. These collaborations enhance the platform’s offerings, making it a comprehensive and seamless experience for businesses worldwide.

Amin Mirfakhraie, Co-Founder of GlobalTrade, expressed his excitement about this new chapter: “We are thrilled about this investment and the opportunities it brings for GlobalTrade. Relocating to Muscat and collaborating with our Omani partners will enable us to leverage their expertise and resources, accelerating our platform’s development and introducing innovative solutions to the global trade market.”

Azimut invests a total of $156 million in Alps Blockchain to expand operations in Oman and other markets

Azimut invests a total of $156 million in Alps Blockchain to expand operations in Oman and other markets

Azimut, an independent, global group in asset management, wealth management, investment banking and fintech, has successfully completed a new club deal to invest in Alps Blockchain totaling $156 million. Alps Blockchain is one of Europe’s leading companies and a leader in Italy in the production of computational power for blockchain and digital mining with operations in Oman.

This new €105 million ( $113 million) investment by Azimut in Alps Blockchain, follows a previous round of €40 million ($43 million) in 2023, confirming the confidence and involvement of private investors in the growth of this innovative company. Total club deal investments now stand at $156 million.

Azimut’s investment was made through Azimut Direct Investment Alps Blockchain II SCSp, a dedicated Luxembourg vehicle that invested in a 5-year guaranteed bond with the option of early redemption by Alps Blockchain. This transaction allowed around 1,000 customers, served by the Group’s network of financial advisors and wealth managers in Italy, to gain exposure to the growth of the blockchain sector.

Alps Blockchain is an Italian company that builds and operates mining farms with the aim of contributing to the development of new technologies and supporting the evolution of the energy sector, combining innovation and efficiency. In the last three years the company has quintupled the number of mining machines installed in its planned sites globally from 2,500 to over 15,000. This increase has enabled the company to reach a total energy capacity of 50 MW and more than 2 EH/s (exahash per second) of computing power produced by June 2024.

Alps Blockchain’s positive trend is also reflected in its financial results. Revenues increased from €697,000 in 2020 to €17.3 million in 2022. In 2023, thanks in part to Azimut’s first investment round, revenues reached €43.6 million, an increase of around 140% compared to the previous year, which, with a positive EBITDA.

The funds raised will be used to support Alps Blockchain’s growth and internationalization path, with a focus on consolidating and implementing its existing operations and considering expansion into new markets to further strengthen its global position.

From Italy, the company has already established operations in countries such as Paraguay and Ecuador, where the completed mining farms use hydroelectric power. Alps Blockchain actively supports the energy sector not only by focusing on hydropower, but also by exploring new sources and projects to promote the energy transition.

Among the key markets for future growth is Oman, where the company is already present with a state-of-the-art mining farm within the Green Data City technology hub. The strategic focus is also on North America, a major destination for the mining industry and attractive for new expansion opportunities.

Giorgio Medda, CEO and Global Head of Asset Management & Fintech of the Azimut Group, commented, “We are thrilled to strengthen our relationship with Alps Blockchain, whose objective is to make mining more sustainable, and to offer our customers the opportunity to participate in the growth of an all-Italian excellence that is rapidly establishing itself around the world. This new transaction is part of Azimut’s broader commitment to promoting a global and sustainable energy transition through innovative investment solutions in private markets. A commitment that from 2022 to date counts investments of over €350 million. Our vision is that asset management can increasingly play a crucial role in combining efficient capital allocation with building a more sustainable future’.

Francesco Buffa, CEO of Alps Blockchain, stated, ‘At Alps Blockchain we are committed to shaping projects that foster the synergy between new technologies and the world of energy, generating a positive impact in both sectors. This new investment is an extraordinary confirmation of the confidence in our work and an essential support for the near future. On the sixth anniversary of the company’s establishment, which was July 20th, we are enthusiastically inaugurating a new chapter in its history dedicated to the pursuit of ambitious growth targets.

Francesca Failoni, CFO of Alps Blockchain, added, “The increase in resources will allow us to contribute even more substantially to the blockchain ecosystem, fostering the development of solid and sustainable projects over time. Thanks to this financial transaction, we will not only be able to increase and make our existing sites more efficient, but also invest in the construction of new facilities, aiming to quadruple the production capacity of computing power in the service of this technology by the first quarter of 2025.”

Oman cybersecurity firm partners with Blockchain entity SettleMint

Oman cybersecurity firm partners with Blockchain entity SettleMint

NSSG a Omani cybersecurity firm that specializes in safeguarding digital assets and sensitive information has partnered with Settlemint a blockchain firm that enables enterprises to easily and rapidly build and integrate blockchain applications, while empowering teams with the skills, knowledge, methodologies, guidance and ongoing support they need.

As per an X statement, ” The collaboration aims to introduce and support blockchain transformation in Oman by bridging the gap between people, processes, and technology.

NSSG provides top-tier cybersecurity solutions, expert consulting services and innovative product manufacturing, all working in harmony to safe-guard our clients’ digital assets and privacy. As per their website, “We are committed to achieving excellence through innovation, expertise, and dedication to fulfilling our client’s security needs.”

The signing agreement was in the presence of NSSG’s Chief Technology Officer, Hamza Al Jaafari, and from SettleMint, the VP of EMEA, Sunath Kolazh.

NSSG noted, “We are committed to providing organizations with the skills, knowledge, methodologies, guidance, and ongoing support necessary for successful blockchain implementation.”

Settlemint has been expanding its partnerships in the GCC region. It recently partnered with the Islamic Research and Training Institute, the research arm of the Islamic Development Bank Group (IsDB), have embarked on a journey to build blockchain based Sharia compliant financial products. The first project will be concerned with Sharia compliant subsidy distribution aimed at creating an efficient and transparent system for Sharia-compliant subsidy distribution for its 57 member countries globally, encompassing 1.7 billion people.

Additionally in Qatar, Qatar Financial Authority signed an MOU with Blockchain entity SettleMint to forward digital asset industry.

First DePin cloud data solution launches in Oman

First DePin cloud data solution launches in Oman

Serenity Shield, a fully decentralized multi-chain data storage solution, has launched its inaugural DEPIN ( Decentralized Physical Infrastructure Network), a decentralized storage facility in Oman. As per the press release, it will be the first facility of many to go live for testing across a global network of interconnected points at pivotal locations in India, Portugal, Netherlands, USA and Australia.

Serenity Shield is a fully decentralized multi-chain solution dedicated to privacy and security. It empowers individuals and businesses to interact securely and confidently in the digital world by leveraging the power of blockchain to safeguard and protect user data.

The operation seeks to liberate individuals and corporations from their current dependence on centralized cloud services for data storage.

With this robust infrastructure, Serenity Shield will allow individuals, businesses and government institutions to access a completely new form of data storage that gives redundancy, security and decentralisation by design. The vast array of global data centers will help to mitigate the centralised risks that currently threaten the widespread adoption of blockchain technology.

Venket Naga, CEO of Serenity Shield, explained, “The self-custodial narrative of decentralization hasn’t been able to stand up amidst the continued dependence on centralized cloud services to store data. We’ve been focused on addressing this for a long time and are finally able to deploy a remarkable solution in getting our DePIN facilities off the ground. In building and launching these state-of-the-art physical facilities, we’re able to fully support a Web3 ecosystem beyond the outlining of conceptual plans in a whitepaper.”

As per the press release, individuals who participate as node operators within the globally distributed network are set to benefit from incentive mechanisms such as token rewards and utility cost settlements. As the operations evolve, tokenized energy rewards will be distributed to users based on their specific locations and requirements, bringing an unparalleled aspect to a project of this kind with the convergence of DePIN and RWA.

The operation is also set to be funded through Green Hydrogen initiatives for renewable energy by governments across the selected locations, with the DePIN architecture already aligning with several sustainability initiatives.

In addition commercial blockchain projects will also be encouraged to contribute resources to the network and foster a collaborative ecosystem. Small and medium enterprises will experience advantages to supply chain management, data synchronization and content distribution; and governmental institutions will be able to better preserve public records and sensitive information.

Venket concluded, “By embracing the values of Web 3.0 and building upon the foundations laid by Web 2.0, we are forging a path towards a fine-tuned decentralised, resilient, and inclusive digital future. We are in the middle of an exciting digital transformation where the paradigm is shifting from centralized to decentralized systems, redistributing power and control in unprecedented ways.

At the forefront of this revolution stands the opportunity for an innovative Decentralized Physical Infrastructure Network to redefine how we conceive, construct, and manage physical infrastructure. It makes sense to start with the data.”

Hydro Crypto mining the star of Bitmain summit in Oman

Hydro Crypto mining the star of Bitmain summit in Oman

A manufacturer of Global crypto mining servers, Bitmain is holding its yearly event, the World Digital Mining Summit (WDMS) in Oman on March 29th 2024 at the W hotel. The theme of WDMS in Oman will be “Hydromining wins the desert”.

As per the press release, the conference will provide new financing opportunities and revitalize the market. Leading mining, finance, investment, custody and energy companies from around the world will participate in the event to help the digital currency and crypto ecosystem flourish. WDMS will provide an international platform to discuss financing mining, mine establishment, renewable energy, mining resources, PoW development and many other hot topics.

The summit will focus on hydro-mining, a cutting-edge technique promising to revolutionize the cryptocurrency mining industry. Hydro mining is an innovative approach to mining that utilizes water to cool mining equipment, a critical innovation in the heat-intensive climates of desert regions. As the industry grapples with environmental concerns, hydro-mining presents a sustainable and efficient solution for digital currency extraction.

Attendees can expect to delve into discussions on sustainability, efficiency, and the future of crypto mining technologies in the digital age. Bitmain’s initiative to hold the summit in Oman underscores the country’s emerging role as a hub for technological innovation in the Middle East.

Oman has been investing heavily in datacenters, and has attracted crypto mining entities such as Pheonix Technologies and Exahertz among others.

Oman based Mamun to invest $1 million in Shariah compliant and digital asset startups

Oman based Mamun to invest $1 million in Shariah compliant and digital asset startups

Oman based Mamun Ventures announced that it will be investing $1 million in Shariah compliant startups and digital asset startups.

As per a LinkedIn post Mamun stated, “Exciting News!  Mamun is dedicating $1,000,000 USD to Invest in Sharia-Compliant Startups in MENA Region! We’re thrilled to announce that Mamun Ventures is allocating $1,000,000 USD in funding from our generous partners to fuel our mission of investing in innovative startups across the Middle East and North Africa (MENA) region.”

Startups in the MENA region, at early stages, pre-seed or seed stages are eligible.

Mamun notes that they are interesting in startups that have a marketplace angle and involve supply chain participants.

Mohammed Al-Tamami speaking to LaraontheBock stated, “We will also be investing in Shariah compliant digital assets, Web3 companies, crypto entities covering the entire Shariah compliant space.”

In December 2023, UAE and Singapore based Triterras, a fintech company focused on digital trade and supply chain finance, using Blockchain enabled trade finance platform Kratos, partnered with Oman based Mamun, fintech infrastructure provider to bolster trade finance in Oman.

In February of this year, Oman’s Ministry of Housing and Urban Planning (MoHUP) announced its roadmap for 2024 which will encompass 130 initiatives of which blockchain technology will play a part.  The Oman Ministry of Housing intends to launch a unified portal with one of its main components being blockchain.

Oman was also one of the first countries in the MENA region to launch crypto mining datacenters.