In a recent LinkedIn post, Anthony Butler, senior advisor to Saudi Central Bank ( SAMA) an expert in Blockchain and digital assets, called for DLT ( Distributed Ledger Experts) or Blockchain experts, as well as AI ( Artificial Intelligence), Machine Learning and software engineers to apply for positions in some world class projects in KSA.
According to Butler there are exciting opportunities in KSA. He states, “There are some world class projects that have an impact in KSA.”
In June 2023, Butler had made a similar call for talents for blockchain, AI and digital assets experts for jobs in KSA. At the time he mentioned roles for software engineers with experience working with DLT protocols and applications. According to Butler the role required experience implementing solutions using tech such as Ethereum, Hyperledger Besu, Hyperledger Fabric, and/or R3 Corda.”
KSA has been launching and investing in digital economy projects across the country.
They had launched a nationwide CBDC project in 2022 which is still underway.
In addition last week, KSA based Marhaba Blockchain Information Systems (MRHB) a blockchain web3 Infrastructure, partnered with Saudi Arabia’s Digital Economy Centre (DEC) an institution driving the digital transformation of Saudi Arabia’s economy in alignment with Vision 2030. The collaboration focuses on Blockchain, DLT and Artificial Intelligence (AI), initiatives.
Even Saudi Arabia’s Muqassa, a subsidiary of Saudi’s Tadawul Group, specialized in settlement of trades, signed an MOU (Memorandum of Understanding) with Swiss Blockchain enabled Instimatch, a cash management platform for institutions across industries and geographies to interconnect. The MOU will work to launch a repo trading platform to enhance the financial structure of the Saudi Capital Market.
Blockchain enabled entities such as Crysp Farms, a UAE based innovator and operator of decentralized blockchain enabled vertical farms, 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.
Additionally AI and Blockchain enabled Tribal Credit, founded by Egyptian entrepreneurs, will be expanding into Saudi Arabia, and using a renewed and increased debt facility of $150 million with Partners for Growth.
Swiss based The Hashgraph Association (THA), for Blockchain DLT digital enablement signed a strategic partnership with the Ministry of Investment of Saudi Arabia (MISA) to launch a “DeepTech Venture Studio” in Riyadh worth $250M USD over five years (2024-2028).
Blockchain has even infiltrated the LEAP 2024 Tech Exhibition and Conference, taking place between March 4th-7th 2024, in Riyadh KSA. Already many blockchain and DLT entities have announced their participation at the event, including names such as Antematter, who specialize in crafting cost-effective, innovative solutions in AI, Blockchain, and Cloud Development, iBLOCKCHAIN, who are fostering blockchain adoption across governments, enterprises, and the public sphere, and companies such as BitWits, will be showcasing their web game, blockchain, and AI development.
So it would seem that KSA is definitely becoming a blockchain, DLT, and digital economy hub.