A “Blockchain Club” has been established in Oman as the country makes efforts to embrace this innovative technology.

The announcement comes on the heels of the recently held Blockchain Symposium, organised by a number of government institutions, Muscat Daily reported. The symposium was put together by the Office of Science, Knowledge and Technology Transfer at the Ministry of Foreign Affairs (MOFA), the Ministry of Information (MOI), the Ministry of Commerce and Industry (MOCI), the Central Bank of Oman (CBO), the State General Reserve Fund (SGRF), the Capital Markets Authority (CMA), and the Information Technology Authority (ITA), among others.

The founding meeting of the blockchain club was held at the Cultural Club, which was attended by the founding members and other interested parties. The meeting particularly focused on establishing the club’s organizational framework and exploring the ways in which the new entity can become an educational center and platform for sharing the latest developments in this space.

The club will work under the Cultural Club and is expected to begin its activities in the coming period. H H Sayyid Taimur bin Asa’ad al Said, assistant secretary general for communications at The Research Council, will be the new entity’s honorary president.

In addition to the Blockchain Club, a company focused on the development, import and localisation of the blockchain technology in Oman is also being set-up in the country.

“We have started the process of establishing the first blockchain company, and while Oman Blockchain Solutions and Applications is a company that will not undertake projects itself, it will be a vehicle where every person who would like to test an application can come on board and probably find the right financing, and the right access to regulators and decision-makers in Oman,” said Abdulsalam bin Mohammed al Murshidi, executive-president of the SGRF (as quoted by tahawul tech).