DUBAI, United Arab Emirates, June 30, 2021 (GLOBE NEWSWIRE) — Today, CasperLabs, a leading blockchain services company and developer of the Casper Network, announced a partnership with His Highness Sheikh Juma bin Maktoum Al Maktoum's SJM Group of Companies to establish their local presence to facilitate use for the Casper Network in the UAE.
In tandem with Lead Ventures, CasperLabs will work closely with local government agencies and UAE–based enterprises to conceptualize, develop and implement innovative use cases that leverage Casper's unique combination of enterprise–grade security, scalability and decentralization.
The partnership is the latest milestone in CasperLabs' expanding presence in the Middle East and North Africa (MENA), and comes on the heels of Saeed Hareb Al Darmaki's appointment as Managing Director, MENA for CasperLabs. CasperLabs first entered into the region earlier this year through a strategic partnership with Lead Ventures and the endorsement from His Highness will further drive momentum in the market.
Since its mainnet launch this spring, Casper has emerged as the only true enterprise grade blockchain on the market, offering a compelling alternative to networks that have failed to garner adoption for enterprise use cases. A growing number of organizations are building on Casper, citing its more predictable and cost–effective gas pricing, ease of migration for existing apps/dapps, the more environmentally–friendly energy consumption model and CasperLabs' whiteglove support and services as primary factors for choosing to build on the network.
Known globally for its spirit of innovation, the UAE is exploring building on Casper for various use cases such as financial services; proven authenticity and sourcing for the Dubai Gold and Commodities Exchange; creation of a national UAE identity solution; certificate, registry and notary signing using a dapp like CasperSign; and university credential verification, to name a few.
"Our Group's vision is aligned with the initiatives of the UAE Government and the regional companies who have consistently accepted and implemented newer technologies in their daily needs. We are pleased to have CasperLabs partner with us to bring its expertise to develop further growth in these sectors," said HH Sheikh Juma Bin Maktoum Al Maktoum, Chairman SJM Group of Companies.
"CasperLabs is honored to be partnering with His Highness' SJM Group of Companies and the UAE on government initiatives. We have seen a remarkable demand for Web3 solutions in this region and we are excited to finally be able to deliver a network that meets the needs for a robust enterprise network. We are honored to be building out the Casper ecosystem in the region with the support of a visionary leader," said Mrinal Manohar, CEO & CoFounder CasperLabs.
About CasperLabs
CasperLabs provides professional services and support for organizations building on the Casper network. Guided by open source principles, CasperLabs is committed to supporting the next wave of blockchain adoption among businesses and providing developers with a reliable and secure framework to build private, public and hybrid blockchain applications. Its team possesses deep enterprise technology experience, hailing from organizations including Google, Adobe, AWS, Dropbox and Microsoft.
To learn more, visit casperlabs.io.
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