The Municipality of Riyadh and IBM Company Will Engage in the Development of Systems on the Basis of Blockchain for Public Services

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The municipality of Riyadh, Saudi Arabia has entered into cooperation with IBM. It is reported that the goal of the cooperation is to work together on a strategy to optimize public services and transactions based on Blockchain.

The decision on partnership was made by the Government of Saudi Arabia as part of a program to improve the quality of municipal services for clients and the integration of leading technologies. The program was called the Saudi Vision 2030.

It is reported that the Saudi Vision 2030 is aimed at developing the state economy separately from the oil industry, which is about 40% of GDP. The program, presented in 2016, is aimed at the development of such spheres as health, infrastructure, tourism, education, industry and the army.

Thus, based on this program, the municipality of Riyadh, IBM and the Saudi technology firm Elm Company intend to hold several meetings to identify areas and services that can be improved with the help of Blockchain.

It is reported that IBM will develop solutions based on Blockchain for municipal services. The company Elm, in turn, will deal with the integration of solutions developed. IBM representative said that according to the company’s technology Blockchain can change the modern society and the whole world, having a huge impact on business and finance:

“Through the collaboration between Riyadh Municipality, Elm and IBM, we will be able to help the Saudi government reimagine and transform the way in which services are provided to citizens, residents, businesses, and visitors. It is a strategic step towards supporting the objectives of Saudi Arabia’s Vision 2030.”

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