03/10/19 07:33 UTC-4

The blockchain company begins work in the UAE after $16 million financing

Blocko, the leading South Korean blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
provider, after receiving funding of $16 million, according to local arabianbusiness press, officially began its activities in the United Arab Emirates. 

Blocko promotes blockchain in UAE

With the support of the Samsung giant, Blocko offers businesses and government organizations an easier way to implement blockchain solutions in their infrastructure.

Before presenting its services in the UAE, Blocko accumulated $16 million through two different rounds of financing, in which the oldest bank of South Korea, Shinhan Bank, as well as LB Investment, KEB Hana Bank and Dadam Investment took part.

The company intends to offer its Aergo platform to enterprises in the Middle East and hopes to repeat the successes achieved in Europe and Asia.

Blocko CEO Phil Zamani said:

“We launched Aergo in response to the growing need for data exchange between industries and companies in areas such as identity verification, document management and Internet technology – in the same areas in which the Middle East, in particular, is looking for practical solutions.”

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  • Blocko has completed the development of 38 corporate blockchain solutions in South Korea for companies such as Hyundai Motors, Samsung and Cisco.
  • The company plans further advancement through the SEED cooperation.


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#Blockchain #UAE #financing

Editor: Yuliya Soroka