Saudi Arabia's Quara brings blockchain to real estate deals

The Brooklyn-based firm has pioneered the use of digital assets within the real estate industry, enabling clients to use blockchain technology for property investments

  
Image used for illustrative purpose.

Image used for illustrative purpose.

Getty Images
 
DUBAI: Saudi Arabia-based Quara Holding is partnering with Ethereum software firm ConsenSys to bring blockchain technology to the Kingdom's real estate sector.


The Brooklyn-based firm has pioneered the use of digital assets within the real estate industry, enabling clients to use blockchain technology for property investments.

Its partnership with Quara Blockchain will allow both the private and public sectors to benefit from ConsenSys’ software solutions, the pair said.

“Partnering with ConsenSys brings new and innovative blockchain solutions to our clients, while providing Quara Holding with unrivaled development and continuous support in a whole new decentralized landscape,” Quara Holding chief Ziad El Chaar said.

ConsenSys is optimistic about the partnership and its potential to inspire the use of blockchain in the Kingdom.

“As a partner, Quara Holding will have full access to the ConsenSys infrastructure, which is the gateway for a number of exciting opportunities,” the company’s business development lead in the Middle East, Philip Matov, said.

The technology will be used across Quara Holding’s companies, in a number of sectors including real estate, finance, supply chain, government, healthcare, oil and gas, e-commerce and education.

Other countries in the Gulf such as the UAE have been investing in infrastructure to accommodate blockchain technology.

Copyright: Arab News © 2021 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Technology