neXgen Group has entered into partnership with bespoke Blockchain technology solution provider, Chainvine to launch blockchain solutions.
Over the last two years, Chainvine has developed the effective mix of blockchain technologies, cryptography and use case expertise that aligns with smart city needs. The resulting platform has three blockchain enabled components: the Chainvine Identity Manager (CIM), the Chainvine Asset Manager (CAM) and the Chainvine Encryption Manager (CEM).
The partners will innovate further by leveraging neXgen’s managed services and three smart city in-country clouds. The ability to create both local blockchain networks in the UAE, Kuwait and Saudi Arabia, as well as nodes of global networks for MENA customers, will enable neXgen and Chainvine to deliver locally optimised solutions to government and real estate development customers.
neXgen and Chainvine will provide solution offerings to multiple smart city verticals. These will include the capability to audit internet of things devices, enable digital economic transactions, intellectual property protection, vertical specific distributed ledgers and identification.
neXgen Group CEO Ghazi Atallah said: “We believe that Chainvine is the right fit for our ambition to evolve smart cities through the power of the Blockchain. neXgen Group has always been at the cutting edge of Smart City transformation and we believe that blockchain is a technology that will revolutionise digital transformation and empower and enable the ecosystem. ”
Chainvine COO and Co-Founder Andreas Tsindos added: “Chainvine is very pleased to be partnering with Smart City leader neXgen in the MENA region. The partnership allows us to leverage the power of our innovative blockchain technology and to contribute to neXgen’s ground breaking smart city solutions. The region is fast becoming a powerhouse in digital transformation and Chainvine to join neXgen and play a part in this.”