Dubai: Today, Nisbah Capital, the blockchain subsidiary ofSaudiArabia-based Taibah Valley,announced that it will join the Tezos ecosystem as a corporatebaker, the first in the Middle East region, and has added the Tezos blockchain to itsblockchain lab projects as part of its initiative to create the biggest blockchain community inthe MENA region to support commercialized applications, counselling, mentoring andresearching in the areas related to blockchain and cryptocurrency
In addition, through its subsidiary, Nisbah Capital, Taibah Valley has also become the firstcorporate entity in the Kingdom to participate in the Tezos ecosystem as a corporate baker,meaning that it will now validate transactions (blocks) and add them to the Tezos blockchain.This move follows anannouncement in 2020 by EDF Groupsubsidiary, Exaion, whichbecame a corporate baker in October. Participating in the ecosystem as a baker not onlystrengthens the decentralization of the Tezos ecosystem but also reinforces its credibility andpaves the way for future institutional adoption in the MENA region. Becoming a Tezos bakeris seen by Taibah Valley as part of supporting the technology and the communities that areinterested in cryptocurrency.
Raghad Abdulghani, Technical Specialist at Taibah Valley,said,“By becoming a Tezosbaker, we see an opportunity to spread the knowledge about cryptocurrencies and how theywork, and to attract different companies to recognize the potential in the MENA region. Inaddition, we believe that baking will help build the future of the Tezos blockchain in theregion.”
Waleed Rassuli from Tezos Gulf, added, “This collaboration with Taibah Valley will be amajor driver tostimulate the adoption of decentralized blockchain technologies in the MiddleEast. Given the increasing number of corporate bakers in the Tezos ecosystem, we think thathaving one in the Middle East will give local blockchain projectsin this regiona boost.”
Taibah Valley was established by 2008 with the mission of investing and supporting projectswith real economic value and positive impact for Saudi Arabia and the MEA region. Its areasof focus are blockchain, Internet of Things and Artificial intelligence.
About Taibah Valley
Taibah Valley is a Saudi company that was established by Taibah University in Madinah in2018, specializing in emerging technologiesthatcontributestostimulatingaknowledge-based economy.The companysupportsinnovative people to build their ideas and begin theirjourney in business and building their careers by creating their own start-ups.For moreinformation, visit http://www.taibahvalley.com.sa/en/home/
About Tezos
Tezos is a decentralized, public blockchain that evolves by upgrading itself. Stakeholders ofthe Tezos network vote on amendments to the protocol to reach social consensus onproposals, creating a secure and organic upgrading mechanism. The protocol’s on-chaingovernance system, Proof-of-Stake (PoS) consensus algorithm, and ability to facilitate formalverification of smart contracts, make Tezos an ideal long-term solution for high-valuefinancial applications such as digital securities. Tezos is fully decentralized and it is the roleof the Tezos Foundation, a Swiss non-profit to support the development and long-termsuccess of the protocol and ecosystem. For more information, visit: tezos.com.
About Tezos Gulf
Based in DIFC Dubai, Tezos Gulfwas established to foster and support the growth of theTezos ecosystem of people and products in the Middle East region.For more information, visit: https://tezosgulf.com/
© Press Release 2021
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