Riyadh picks IBM to integrate blockchain in government services

Saudi Arabi's Public Investment Fund owned Elm Company has selected International Business Machines Corp. (IBM) as the strategic partner for the integration of the blockchain technology with Riyadh Municipality, the company said in a statement.  

IBM and Elm will develop an implementation strategy to facilitate government services and transactions to better serve customers digitally and to support the transformational objectives of the Saudi Vision 2030.

Riyadh Municipality along with the two companies will jointly organize workshops in collaboration with key government departments, and private and semi-government sectors in Riyadh to identify services that can be transformed and enhanced through blockchain.

IBM will design the first blockchain-based solution at the municipality level, while Elm will integrate the technology into government’s services as the next stage, the statement added.

“Elm is continuously applying its expertise, innovative capabilities, national talents and global partnerships towards the systematic digital development that ensures improved efficiency, in line with the Kingdom’s National Transformation Program 2020,” said Dr Abdulrahman Al Jadhai, chief executive officer, Elm.  

"Through the collaboration between Riyadh Municipality, Elm and IBM, we will be able to help the Saudi government reimagine and transform the way in which services are provided to citizens, residents, businesses, and visitors," Tarek Zarg El Aioun, country general manager, IBM Saudi Arabia, added.

A recent blockchain report by the IBM Institute for Business Value said that several governmental organizations are embracing blockchain technology to promote more extensive collaboration.

In the Middle East and Africa, nine out of 10 government executives surveyed see contract management as the greatest potential new business model, it noted.