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IBM to Partner with Riyadh for Blockchain Solution Implementation

Global tech giant IBM seems to be on a roll in recent times as it sees itself coming to agreement with a Saudi company Elm to accelerate the blockchain technology based solutions being implemented in the Riyadh municipality.
The United States based tech company IBM has recently agreed on a partnership with the Saudi company to help them leverage the power of blockchain technology and implement distributed ledger systems for payment services and some governmental aspects in Riyadh. Elm has been undertaking technology based solutions for the municipality of Riyadh for a while now and has been working with IBM and the local authorities. Both of these two enterprise level companies are aiming to broaden the applications of digital technology in the Saudi capital. The work is slated to improve the quality of the municipal services of Riyadh.
The Vision 2030 Plan
As a part of the Arab Kingdom’s Vision 2030 Plan, the two companies are going to work together and identify all the services which can benefit from the power of blockchain technology. Once the possibilities are recognized, IBM will take on the role of developing the blockchain technology based solutions at the municipal level. Elm will take things from there to implement the blockchain solutions at a government level.
The Vision 2030 Plan is the initiative being taken by the top most echelons of the Saudi Kingdom so that they can take the country from being a solely oil-dependent economy to being a hub of commerce and technology in the region.
The Vision 2030 Plan launched in 2016 and the Kingdom has since taken a lot of steps to work towards their end goal. One of the recent most steps which came just before the announcement of the partnership between Elm and IBM is the partnership between the central Saudi bank and the blockchain platform Ripple for cross-border payments.
Another example of a significant partnership undertaken by the Saudi government was one with ConsenSys, a US based blockchain startup company in May.
The CEO of the company Elm, Abdulrahman Al Jadhai spoke about the agreement with IBM saying that the partnership with the US based tech giant will significantly improve their approach towards tackling the upgrades to Riyadh’s municipal services.
Third Major Project in Recent Times
This is the third major government partnership blockchain based project that IBM has undertaken in recent times. After the first project where IBM was awarded the AUD Billion dollar contract by the Australian government for their plans to be a leading technology based government by 2025, IBM also embarked on a partnership with the state of Delaware in the US. Thus, their recent partnership with Elm in Riyadh marks their third maj

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