Beyond Imagination Technologies (BIT), the India-based Web3 technology company, has strategically expanded into the Middle East, following a partnership with the Saudi Arabian software company Aba’ad Alkhayal.
Through the partnership, both Beyond Imagination Technologies and Aba’ad Alkhayal aim to bring positive social impact by being at the forefront of Web3 and blockchain innovation.
As the tech partner, Beyond Imagination Technologies will identify problem areas and collaborate with Aba’ad Alkhayal clients to ideate, develop, and deploy solutions that will help them with blockchain. The move comes as part of the company’s commitment to fostering blockchain adoption and innovation across various industries in the region.
Beyond Imagination Technologies will provide its flagship solution BitMemoir to Aba’ad Alkhayal, which aims to help clients with digital certifications. Users can convert personal identifiers, property documents, and other sensitive materials into digital certificates, or NFTs, and store them in their own wallets. By utilising blockchain technology, BitMemoir enables users to own their personal documents in perpetuity.
BitMemoir’s blockchain technology offers a wide array of solutions, including decentralised applications, smart contracts, as well as secure data management systems. The company’s mission is to empower businesses and individuals with seamless and transparent blockchain solutions that drive efficiency, security, and trust in transactions.
Web3 and blockchain in the Middle East
Nikhil Goyal, co-founder of Aba’ad Alkhayal, commented on the news: “Our expansion into this dynamic region marks a significant milestone in our journey to revolutionise industries and empower businesses with the potential of blockchain technology. We firmly believe that blockchain has the power to reshape the future, and we are committed to being at the forefront of this transformation.”
“By 2030, Saudi Arabia aims to unleash the full potential of its citizens and resources, embracing digital transformation to forge a brighter, interconnected future for all. This ambitious path includes the transformation of the Kingdom into a fully digitised society, a beacon of technological advancement and innovation. Thus, being the frontrunners in the blockchain space, we want to contribute to this aim of the nation to our full potential.”
Princess Hesah Al Saud, co-founder of Aba’ad Alkhayal, also discussed the partnership: “With this partnership, we envision a future where we harness the power of blockchain to unlock the full potential of our economy. This new beginning will pave the way for digital transformation, creating countless employment opportunities for our citizens and empowering our students with the knowledge and skills needed to embrace this digital revolution. Thus, we aim to drive positive social impact and create a better tomorrow in Saudi Arabia through technology.”