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Blockchain Oman Forum Discusses Opportunities and Challenges

Blockchain Oman Forum Discusses Opportunities and Challenges

03 May 2018

Supported by the Information Technology Authority (ITA) and organized by Business Processes Outsourcing Services “BPOS”, the Blockchain Oman Forum was kicked off yesterday morning at Sheraton Hotel, under the patronage of His Excellency Abdullah Salim Al Salmi, Executive President, Capital Market Authority and with the presence of more than 100 senior professionals from ICT, banking and finance, energy, Manufacturing, etc.. to discuss their strategies for blockchain implementation and digital transformation. 

The 2-day event is to address the key issues of blockchain implementation and challenges, future of blockchain, trends and opportunities for the Omani market, and Blockchain application for energy & utilities, banking and finance, supply chain. It will also focus on the benefits of blockchain projects in boosting productivity, the impact of standardized planning and business partnering for the success of such projects. 

The event’s agenda includes a number of presentations, use cases, panel discussions and working papers delivered by highly prominent international and local experts in blockchain technologies. The event started with a keynote address by dr. Salim Bin Sultan Al-Ruzaiqi, CEO of ITA through which he stated “We believe that the Sultanate, through the development and implementation of the e.oman strategy, has the foundational technological base to embrace Blockchain and distributed ledger technologies broadly.”

“The Government has demonstrated clear and decisive interest in using Blockchain technology in its digitalization efforts. We are looking closely at the technology itself and architecting how it can be adopted in the Government and beyond. We have identified a number of potential use cases within the Government and are actively engaged with their respective stakeholders to frame and architect pilots. This paves the way to productive deployment after tailoring the pilot solutions to sustainable productive use,” he further added.

On the importance of this event, Dr. Omar Al-Rawas, Chairman of the Board of Directors of BPOS, said: "The conference's main objective is to build on the most important outcomes of the government conference held in November 2017 and the positive steps taken after it. Today, we seek to learn the correct application mechanisms for these technologies, and give international companies specialized in Blockchain technologies to identify local companies and transfer their expertise to them."

It is worth mentioning that Blockchain is one of the key technologies driving the Fourth Industrial Revolution alongside technologies such as Artificial Intelligence and Machines Learning. Blockchain is a distributed digital ledger technology. It enables full transparency by recording transactions between users, usually computers on a decentralized network, in an immutable way.