Quara Holding partners with blockchain technology leader, ConsenSys

RIYADH, Saudi Arabia, Jan. 12, 2022 /PRNewswire/ -- Saudi Arabia-based company Quara Holding has announced a ground-breaking partnership with leading Ethereum software firm ConsenSys, a blockchain infrastructure company supporting innovative solutions for developers, enterprises, and people worldwide to build next-generation applications, launch modern financial infrastructure, and access the decentralised web.

Quara Blockchain is part of the ConsenSys Partner Programme and the partnership sees Quara Blockchain and ConsenSys supporting each other with activities in Saudi Arabia.

ConsenSys enables companies to issue, distribute and manage the lifecycle of any form of digital assets on a decentralised network. The company is one of the first operators within the real estate industry to enable its clients to use blockchain technology for property investments. This partnership allows the implementation of blockchain, which will be used to move traditional non-digital real estate securities to a digital form using blockchain technology.

Ziad El Chaar, CEO, Quara Holding, said: "Partnering with ConsenSys brings new and innovative blockchain solutions to our clients while providing Quara Holding with unrivalled development and continuous support in a whole new decentralised landscape. We are always looking to innovate and bring our clients the best service possible, illustrated by this exciting collaboration. It is a huge milestone in the history of our company."

Philip Matov, ConsenSys Business Development lead in the Middle East, said: "At ConsenSys we are looking forward to our partnership with Quara Holding as their commitment to innovation and digital transformation is truly inspiring. Together we will push the boundaries of modern financial infrastructure. We are confident that we will be able to serve as an example and carve a path forward for progressive companies in the region to follow."

Matov added: "The potential of this partnership is enormous as it gives clients in various sectors across Saudi Arabia the chance to use blockchain technology for applications and transactions, which were previously done in a very outdated fashion. We're delighted to be working with a forward-thinking company that puts its clients first and has a strong vision for the future."

The blockchain technology will be used across Quara Holding's ecosystem of companies in various sectors, including finance, real estate, supply chain, government, healthcare, oil & gas, e-commerce, and education.