Blockchain Firm Blocko, Serving Samsung & Cisco, Begins Operation in UAE

South Korean blockchain service provider Blocko started offering its services in the United Arab Emirates after raising $16 million in funding. Blocko has collaborated with SEED Group, a member of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum in the UAE.

Before unveiling its services in the UAE, Blocko amassed $16 million via two different funding rounds, which saw participation from South Korea’s oldest bank, Shinhan Bank, and also LB Investment, KEB Hana Bank and Dadam Investment.

The blockchain company intends to offer its Aergo platform to enterprises in the Middle East and look forward to duplicate the realized successes in Europe and Asia.

Blocko CEO Phil Zamani said:

“We launched Aergo in response to the growing need for data sharing between industries and companies in areas such as identity verification, document management and the Internet of Things – the same areas in which the Middle East in particular is seeking practical solutions.”

Blocko earlier finished 38 total corporate blockchain solutions in South Korea for firms such as Hyundai Motors, Samsung and Cisco. The firm envisages further advancement through SEED collaboration.

SEED Group CEO Hisham Al Gurg explained the importance of the partnership:

“The UAE and the wider Middle East region are constantly seeking advanced blockchain solutions for government and digital services. And so, we recognised the partnership with Blocko and Aergo as a solution to satisfy the increasing need for companies working at the highest level of scale and security.”

The UAE Ministry of Health and Prevention unveiled a blockchain system to store and distribute healthcare info. The blockchain-powered platform will “save and share the assessment information of health professionals, including doctors, pharmacists and technicians with local licensing health authorities.”