COTI Joins Saudi Arabia AI & Blockchain Centre (SAAIBC) as Founding Member

• The participation of COTI indicates a sustained interest in the region and in using real-world assets (RWAs) to bridge blockchain economies and conventional finance.
• The largest obstacle to institutional adoption of public blockchain, compliance privacy, is addressed by COTI’s technology.

The Saudi Arabia AI and Blockchain Centre (SAAIBC) has COTI as a founding member, which it is happy to announce. With a common goal of accelerating the adoption of AI and blockchain across MENA and wider Africa, the centre unites Saudi Arabian leaders, policymakers, and practitioners. The participation of COTI indicates a sustained interest in the region and in using real-world assets (RWAs) to bridge blockchain economies and conventional finance.

One of the most dynamic settings for technology progress in the world is the economic environment of MENA and larger Africa. With unheard-of levels of investment, Saudi Arabia’s Vision 2030 seeks to establish the Kingdom as a worldwide AI powerhouse. These include Project Transcendence, a $100 billion initiative to increase investment in data centers, startups, and AI infrastructure, and the Public Investment Fund (PIF), a $40 billion AI fund. Strategic alliances, like the $1.5 billion pledge from AI chip firm Groq, support the Kingdom’s aspirations to leverage technology globally.

As a consequence, the Saudi AI industry alone is expected to reach $61.85 billion by 2033, growing at a remarkable 46.6% compound annual growth rate.

Being an important SAABIC partner, COTI will provide extensive knowledge of auditability, compliance confidentiality, and strategies for bridging the gap between Web3 technology and conventional finance.

The largest obstacle to institutional adoption of public blockchain, compliance privacy, is addressed by COTI’s technology. RWAs have access to COTI’s quick and effective privacy technology, which opens up a multitrillion-dollar potential in commodities, national infrastructure, financing, and everything else. RWAs are positioned to be crucial in facilitating the integration and use of blockchain and AI in international marketplaces.

SAABIC Debuts During RWA Summit Roundtable in Dubai

Today, at the Real-World-Asset Summit in Dubai, SAABIC made its formation official. This event offers the perfect setting for direct interaction with important players influencing technological development at the highest levels.

Together with leading figures from government, investment, and technology, SAABIC members participated in the RWA Summit roundtable to discuss the main obstacles to tokenization in MENA and across Africa. A group of 40 distinguished guests, including prominent government leaders and members of the royal family from the United Arab Emirates, Kingdom of Saudi Arabia, Republic of Kazakhstan, Republic of Nigeria, Republic of Sierra Leone, France, and the United Kingdom, as well as investors with almost half a trillion USD in AUM, attended the event, which was held at the iconic Burj Al Arab and coincided with the TOKEN2049 conference.

The future of asset tokenization, regulatory clarity, and fostering trust between TradFi and DeFi were among the topics of discussion.

Shahaf Bar-Geffen, CEO, COTI stated:

“This is a rare opportunity to shape blockchain policy and infrastructure at an early stage throughout the Africa and MENA region. By bringing together infrastructure providers, including COTI, with investors, government officials, and businesses, we will be able to trial meaningful projects with input from all relevant stakeholders – giving the greatest possible chance of success.”

We cordially encourage experts from the fields of law, regulation, government, entrepreneurship, and investment to participate in this forward-thinking initiative. Those who are interested are urged to apply via the SAABIC website or keep up with its activities on LinkedIn. By working together, we are creating the future rather than only envisioning it.