Leading enterprise blockchain platform Blockedge Technologies and Suvik Technologies, a public blockchain technology company based in the United Arab Emirates, have signed a memorandum of understanding (MoU) to form a joint venture. The JV’s goal is to build resources that facilitate the transition to Web3 technology for businesses around the world.
Why Blockedge and Suvik partnership is a strong synergy
Blockedge. which has its headquarters in Pleasanton, US, provides a wide variety of products, solutions and services in the web3 tech space. The company automates the process of creating and adopting blockchain networks on a wide scale, giving companies the opportunity to transform their operations significantly.
Suvik, on the other hand, has its headquarters in the United Arab Emirates, where it has set up shop to take advantage of the UAE’s conducive web3 business environment. It offers specialised services in management consulting, business setup, blockchain technology solutions, information technology and software development, distributed ledger technology advisory services and corporate advisory services.
The partnership allows the two companies to combine their resources and expertise, for optimal results. Blockedge will continue providing an automation platform for managing infrastructure.. In addition, it brings the know-how in building decentralised applications (dApps) and interoperable blockchain solutions. Meanwhile, Suvik group supplies Plugin, a Decentralised Oracle Platform based on the XDC Network and their own proprietary trading system for crypto.
Dubai will serve as the headquarters for the new 55:45 joint venture. The new entity will concentrate on the Middle East, Asia-Pacific and North American markets. Over the next three years, the two companies intend to build the necessary infrastructure layer to inspire and equip more than 1,000 organizations.
Notably, the joint venture is a timely venture, coming at a time when the blockchain ecosystem and crypto are fighting to go mainstream. The two companies plan to release decentralised applications for a wide range of sectors, beginning with agribusiness, healthcare, supply chain and e-commerce.