An exclusive provider of IT-based solutions from the USA and Florida along with its operations in Egypt, Qatar, Kuwait, and the UAE, has turned into the chief distributor of the blockchain-related services and products provided by Modex in Africa as well as MENA jurisdiction. The latest collaboration with Modex (a top provider of blockchain solutions), permits both entities to offer unique services through which a wide transformation will take place in the management, sharing, as well as storing of data along with data integrity and transparency.
SBS Grows into the Key Supplier of the Blockchain Solutions of Modex
Via the respective collaboration with Modex, SBS wishes to offer the most groundbreaking solutions as well as goods with the operations dealing with the blockchain across diverse industries, taking into account finance, business, and healthcare. With this, these firms will be permitted to effortlessly integrate blockchain-based solutions while utilizing the present data systems of the consumers to obtain additional operational effectiveness, transparency, and security.
According to Adel Youssef, the blockchain market in Africa and the Middle East is expected to experience significant growth to reach the figure of up to US$ 7.6 billion by 2028, after surging from US$ 199 million in 2021. This would be a significant increase from the current market value of US$ 199 million (the CEO of SBS). He stated that the authorities require a rapid pace of development in the fields such as logistics, telecommunication, banking, healthcare, and several other fields, along with the utilization of the solutions based on blockchain to assist in the acceleration of the very development throughout these departments. He also stated that the authorities require the utilization of blockchain technology.
The co-founder and CEO of Modex, Mihal Ivascu, disclosed that keeping in mind their knowledge and experience related to the regional and native firms, selecting Superior Business Solutions to play the role of the prominent distributor within the Africa and MENA jurisdiction counts as a reasonable move. Because of the respective contract, Modex will expand to numerous other users living within these regions, allowing them access to the blockchain solutions and efficiently cope with their business requirements.
Market Opportunities Related to Blockchain-as-a-Service
As per Fortune Business Insights, US$ 1.9B was the market size of the worldwide Blockchain-as-a-Service in 2019 while it is predicted to touch the level of USD 24.9B by 2027, making an elevation of up to 39.5%. The higher adoption of the services and instruments related to Blockchain-as-a-Service (BaaS) among the minor as well as the average organizations to construct their payment system, smart contracts, and blockchain applications is anticipated to lead the market advancement during the evaluation period, as mentioned in a report.
Modex Ledger DB is an enterprise-scale venue constructed on the Blockchain Database® (BCDB) solution. With this, Modex intends to formulate appropriate software apps to offer particular use cases to be adopted on the behalf of particular industries with the flexibility to be modified according to the businesses in line with a comprehensive model based on subscription.
