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Saudi Arabia Exploring Possibility of Implementing Blockchain in Government – Featured Bitcoin News

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The Kingdom of Saudi Arabia is exploring the possibility of implementing blockchain technology through its government as well as allowing the use of cryptocurrencies. However, an official said the kingdom can successfully build blockchain-based solutions only if it hires people who are capable of this technology.

Government Must Hire Talented Individuals

Saudi Arabia is considering operating the use of cryptocurrencies in the kingdom as well as the adoption of a blockchain, a report citing a government official said. In addition, the report says the kingdom has also discussed Web3 technologies and how these can be utilized.

The official, Prince Bandar Bin Abdullah Al Mishari, assistant to the interior minister of technology, is however quoted in Unlock Media. report suggesting that more needs to be done before Saudi Arabia can successfully build blockchain-based solutions. He said:

There have been several meetings, webinars that have discussed the implementation of blockchain in government, however in my opinion, all these studies and regulations cannot build blockchain solutions unless we have innovative talented people within these entities who can develop solutions using blockchain, Web3 and cryptocurrencies.

Al Mishari, meanwhile, suggested that the government should not only hire blockchain experts, but should “work with universities to develop it.” [a] blockchain and Web3 curriculum. “

While the Saudi government has yet to make a decision on the use of cryptocurrencies, a recent survey suggested that more than half of the country’s residents believe that digital currencies should be used for payments. Bitcoin.com News reported that residents cite the ease of sending funds across borders as well as the low cost of moving funds as their reasons.

What are your thoughts on this story? Tell us what you think in the comments section below.

terexe1

Terence Zimwara is a Zimbabwean award-winning journalist, author and writer. He has written extensively on the economic problems of some African countries and also how digital currencies can provide Africans with an escape route.


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There have been several meetings, webinars that have discussed the implementation of blockchain in government, however in my opinion, all these studies and regulations cannot build blockchain solutions unless we have innovative talented people within these entities who can develop solutions using blockchain, Web3 and cryptocurrencies.

Source: https://xyforex.com/2022/04/23/saudi-arabia-exploring-possibility-of-implementing-blockchain-in-government-featured-bitcoin-news/

Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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