Saudi Arabia’s IR4LAB, a specialized technology firm focusing on disruptive technologies such as Blockchain and Artificial Intelligence, is making waves with its innovative implementation of the first-ever Blockchain-enabled registration and certificate of attendance solution. This technology is being deployed for the inaugural Blockchain Research Institute (BRI) Web3 summit, scheduled for October 19th at the prestigious Four Seasons hotel in Riyadh, KSA.
IR4LAB is harnessing its cutting-edge blockchain-based solution, known as DocCerts, to efficiently manage registration processes and issue certificates of attendance for the groundbreaking Web3 Blockchain and beyond summit. This event is organized by the renowned Blockchain Research Institute, which has a global presence.
Saudi Arabian Tech Firm Implements First Blockchain-Powered Registration System for Web3 Summit
The Blockchain Research Institute Middle East, known for its globally recognized yearly summits, is spearheaded by the esteemed Dr. Don Tapscott. Dr. Tapscott, a renowned figure in the field, is set to address the C-suite audience during the summit, marking his first visit to the Kingdom. The event will focus on vital topics such as Blockchain for Oil & Gas, Supply Chain & Logistics, Smart Cities, Banking & Finance, and Women in Web3. The organizers are committed to making this an annual event in Riyadh.
In 2021, the Saudi Arabian events industry achieved a valuation of $6.1 billion, and this figure is projected to soar to $17.6 billion by 2031. The innovative solution introduced by IR4LAB will introduce a blockchain-based registration certificate, a pioneering move for the region. This certificate will be provided to all attendees, whether they participate online or in-person.
The Web3 Summit: Blockchain and Beyond aspires to bring together industry leaders, experts, and stakeholders to explore the potential and advancements of blockchain technology and web3. The summit is aligned with the Saudi Vision 2030, which focuses on the ongoing digital transformation in Saudi Arabia.
Keynote speaker Dr. Don Tapscott, a prominent author in the blockchain space, is well-known for his insights into technology’s impact on businesses and societies. Panel discussions will encompass topics such as Blockchain’s Use Cases in the Oil and Gas/Energy Market, Implementing Blockchain in Supply Chain Logistics, Innovating Financial Services with Blockchain, Building Future Cities with Web3 Technology, and Empowering Women in the Blockchain Ecosystem.
Majd AL AFIFI, Co-Founder and CEO of IR4LAB, emphasizes that attendees will enjoy a novel event experience leveraging blockchain technology. The DocCerts solution streamlines registration, ensuring a seamless, transparent, and eco-friendly process. Additionally, certificates of attendance will be provided digitally. AFIFI states, “We stand ready and work diligently to make blockchain a part of our everyday lives, meeting the Kingdom’s Vision 2030.”
Mohamed EL KANDRI, Co-Founder and CTO of IR4LAB, underscores the ability of blockchain technology to address significant industry challenges, including counterfeit tickets, ticket scalping, and security concerns. EL KANDRI emphasizes that blockchain-based registration enables the issuance of unique, tamper-proof, and traceable digital tickets, preventing scalping and unauthorized reselling.
Aline Daoud, Managing Partner at the Blockchain Research Institute Middle East, expresses pride in the institute’s commitment to practical application. She notes that by utilizing the DocCerts solution, attendees gain hands-on experience with a valid blockchain implementation. Daoud looks forward to the participation of prominent speakers who will share successful use cases that align with the Saudi Vision 2030 themes.
Market projections indicate a bright future for blockchain technology in event ticketing and related industries. According to MarketsandMarkets, the blockchain in the event ticketing market is set to reach $468.3 million by 2023, with a compound annual growth rate of 39.3% from 2018 to 2023. Similarly, Grand View Research predicts that the global blockchain in the media, advertising, and entertainment market will reach $1.57 billion by 2030, primarily driven by blockchain’s growing adoption in the ticketing industry.
The forthcoming Web3 Summit: Blockchain and Beyond anticipates hosting over 500 delegates from the Gulf region and more than 70 experts from around the world. This practical initiative, aligned with the Vision 2030 objectives, serves as a crucial step toward embracing blockchain technology under the Kingdom’s vision for emerging technologies.
