Dubai-based Singularity Innovations has partnered with Hong Kong-based blockchain technology company Red Date to provide services for blockchain infrastructure in the Middle East. Middle and North Africa.
Under the partnership, Egypt-based investment arm of Singularity Innovations, Singularity Innovations will leverage the BSN Spartan Network, a framework unrelated to the cryptocurrency space that is only available outside of mainland China, according to the statement from RedDat. Queen Telegraph.
On this occasion, CEO of Singularity Innovations, Mohamed Tayseer, said that this cooperation will enable the infrastructure to use international interoperable solutions for blockchain technology, and benefit from it in many different fields such as supply chains, global trade, carbon credits, personal data management and many others.
The BSN Spartan Network was launched in September of last year, when it was considered the international network of Red Data, which specializes in dealing with public blockchain networks that are not related to cryptocurrencies.
BSN supports other blockchains, such as Ethereum, Cosmos, and Polygon Edge, in ways that are not related to cryptocurrency. The network also receives support from the National Development and Reform Commission, which formulates and implements national economic policy on the Chinese mainland.
The network is in line with China's ban on cryptocurrency and related activities such as trading; The BSN team said the technology would appeal to companies that want to test the capabilities of blockchain technology, without being exposed to the volatile nature of cryptocurrencies.
On the other hand, many countries in the Middle East and North Africa are more accepting of blockchain and cryptocurrency, including the United Arab Emirates and the Kingdom of Bahrain, among others.
