The Proof of Trust, KHK Holding announce collaboration

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

The Proof of Trust, the world’s first globally patented smart contract validation and automated dispute resolution platform, announced a collaboration with the Kingdom of Bahrain through KHK Holding, founded under the patronage of His Highness Shaikh Khalid bin Hamad Al Khalifa.

The Kingdom of Bahrain has emerged as a key centre for technology in the Arab Gulf region. In 2017, the government launched its ‘StartUp Bahrain’ programme, which has led to growth of nearly 50 per cent in Bahrain’s startup ecosystem. Technology spending is also estimated to grow at an annual rate of 8.6pc over the coming three years - demonstrating its hunger for innovation. The Proof of Trust’s hub will meet the needs of the burgeoning tech sector by giving Bahrainis the opportunity to join educational courses run by The Proof of Trust through which they will be able to work for the Company within the region.

Sakhib Waseem, Chief Innovation Officer at The Proof of Trust said: “The Kingdom of Bahrain has demonstrated an incredible level of dedication to building its nascent technology industry. As we enter the transitionary period out of the Covid-19 pandemic, governments and the private sec- tor alike are seeking new ways to ensure business continuity to support economic recovery and protect against future black swan events. The Proof of Trust can provide solutions in support of both objectives through our innovative, IBM-backed protocol.

“It’s highly welcoming tech and business environment make Bahrain the perfect launch-pad for The Proof of Trust in the region, and we look forward to working closely with our in-country partners to de- liver novel solutions to some of the world’s biggest problems.”

Mohammed Shahid, Chair- man of KHK Holding said: “As pioneers of innovative technology in the Gulf, we are very proud to be collaborating with The Proof of Trust to bring the power of its protocol to Bah- rain. Working with The Proof of Trust, we hope to create new technology-based opportunities for our people and further enhance our business landscape.”