Saudi Arabia, Jan 8, 2021 – (ACN Newswire) – Nisbah Capital, a subsidiary of Saudi Arabia-based Taibah Valley, is joining the Tezos blockchain ecosystem as a ‘baker’, the first in the Kingdom. Taibah Valley also adds the Tezos project in its Blockchain Lab, as part of an initiative to create the largest blockchain community in the MENA region, supporting commercialized applications, counselling, mentoring and researching in areas related to blockchain and cryptocurrency.
Through Nisbah Capital, Taibah Valley becomes the first corporate entity in the Middle East participating in the Tezos ecosystem as a corporate baker, meaning that it will validate transactions (blocks) and add them to the Tezos blockchain. This follows the announcement by EDF group subsidiary Exaion (https://bit.ly/2MG4Qod), which became a corporate baker in October.
Participating in the ecosystem as a baker not only strengthens the decentralization of the Tezos ecosystem but also reinforces its credibility and paves the way for future institutional adoption in the MENA region. Becoming a Tezos baker is seen by Taibah Valley as part of supporting the technology, and the communities that are interested in cryptocurrency.
Raghad Abdulghani, Technical Specialist at Taibah Valley, said, “By becoming a Tezos baker, we see an opportunity to spread the knowledge about cryptocurrencies and how they work, and to attract different companies to recognize the potential in the MENA region. In addition, we believe that baking will help build the future of the Tezos blockchain in the region.”
Waleed Rassuli, Tezos Gulf, added, “This collaboration with Taibah Valley will be a major driver to stimulate the adoption of decentralized blockchain technologies in the Middle East. Given the increasing number of corporate bakers in the Tezos ecosystem, we think that having one in the Middle East will give local blockchain projects in this region a boost.”
Taibah Valley was established by 2008 with the mission of investing and supporting projects with real economic value and positive impact for Saudi Arabia and the MEA region. Its areas of focus are blockchain, Internet of Things, and Artificial intelligence. Learn more at taibahvalley.com.sa and tezos.com.
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