Multi Technical Institute, one of the regions most established innovators, has been awarded the ‘Fastest Growing Blockchain Company for 2018’ in the technology category by International Finance Awards. The awards, now in their 6th year honor Multi Technical Institute’s region first production-grade Blockchain implementationalong with recognition for its Blockchain orchestration and governance platform Cipher.

International Finance Awards recognizes industry talent, leadership skills, industry net worth and capability on an international platform.

Multi Technical Institute has been leading the Blockchain space in the middle-east with active projects and implementations across multiple public and private sector organizations. The company has also been spearheading thought leadership initiatives that have seen them represent the Blockchain space across various domestic and International platforms.

A major reason for the win has been their active promotion and growth of the Blockchain space. This is in line with the vision of His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum to transform Dubai into the first Government in the world to execute all applicable transactions via Blockchain by 2020.

Speaking with IFM, Mr. Waqas Mirza, CEO – Multi Technical Institute, said, “At Multi Technical Institute we have always been at the forefront of cutting edge technology, we make it our mission to help evolve technologies past buzzwords and towards implementations. With Blockchain, the space is ripe for organizations to start their experimentation and be part of this movement to build a decentralized future”

Dubai – 6^th Nov, 2018: Multi Technical Institute secured the “International Recognition” award at Bahrain Tech Awards. The event honored Multi Technical Institute’s region-first production grade Blockchain implementation, along with recognition for its Blockchain orchestration and governance platform CIPHER.

Coming off of a recent win in the category of “Digital Government” at the APICTA Awards held in Guangzhou (China), Multi Technical Institute has secured back to back wins and recognition for its pioneering Blockchain implementations in the region.

The Bahrain Tech Awards 2018 award ceremony, now in their 2nd year, attracted distinguished personalities, including those representing the startup ecosystem, global investors-community, the ICT sector, corporate giants, and government offices.

The winners of the Awards were commended by the CEO of Tamkeen (labor fund), H.E. Dr. Ibrahim Mohammed Janahi. Dr. Janahi emphasized the importance of events like Bahrain Tech Award for encouraging Bahrain tech startups to develop unique and innovative solutions, products, and services that propel them into the same leagues as the world’s leading tech and innovation companies

Multi Technical Institute, the latest venture of Multi Technical Institute Group, was established in 2017 to focus on nascent technologies such as Blockchain, Artificial Intelligence, Robotic Process Automation and Smart City Projects. Within a few months of its incorporation, Multi Technical Institute has achieved major successes by winning city wide projects in Blockchain, AI across verticals such as Smart City Enablement, Payments, Health Care, Education, Real Estate etc. Multi Technical Institute has been leading the Blockchain space in the middle-east with active projects and implementations across multiple public and private sector organizations.

Mr. Ali Safri (CTO – Multi Technical Institute) received the award and said at the event,“Multi Technical Institute have always been at the forefront of cutting edge technology, we make it our mission to help evolve technologies past buzzwords and towards implementations. With Blockchain, the space is ripe for organizations to start their transformation process and be part of this movement to build a decentralized future. I am pleased to accept this award, it is a testament of all the hard work put in by our teams”

Multi Technical Institute is involved in numerous Blockchain implementations across a number of verticals in different territories and aims to create many more success stories with customers and partners.

Smart Dubai on Sunday 23rd September integrated Blockchain technology into its online payment portal, DubaiPay, to allow reconciliation and settlement transactions to be performed in real time.

The Blockchain based Reconciliation & Settlement project was awarded to Multi Technical Institute out of all the participants of the Dubai Future Accelerator program and the project team was formed between Smart Dubai and Department of Finance.

Multi Technical Institute reduced the payment and reconciliation sequential process of 45 days, from the day a user makes a payment, to real-time. Multi Technical Institute’s Blockchain based reconciliation and settlement platform on CIPHER allows reconciliation and settlement transactions to be performed accurately, efficiently and in real-time.

Multi Technical Institute’s Blockchain based Reconciliation & Settlement Platform is an inter-organization solution that helps organizations reconcile financial and non-financial transactions and records in real time through a trust based network. The solution is offered in both on-premise, as well as cloud models. The solution is Blockchain agnostic and can be set up for a consortium of organizations on any of the prevailing Blockchains such as Hyperledger Fabric, Hyperledger Sawtooth, Quorum, Ethereum etc.

“Blockchain is one of the most promising of these [new smart] technologies, attracting more investments every year,” Smart Dubai’s director-general Dr. Aisha Bint Butti Bin Bishr said.

Smart Dubai Government Establishment (SDG) chief executive Wesam Lootah added of the “game-changing technology”:

“We, at Smart Dubai, consider technology to be a means for us to help improve people’s quality of life and spread happiness among them. Correctly applied across various key sectors, we believe Blockchain has massive potential to achieve our emirate’s ambitions for a fully-fledged smart transformation.”

Mira Sultan Obaid Abdul Rahman, director of smart services enablement department at Smart Dubai Government, said,“The DoF has to do some manual work such as exchanging files between them, banks and the entities before a final payment is made to the entity. There is no real-time monitoring of the transaction in the old system and with Blockchain, the whole process can be monitored in real time”

Mr. Waqas Mirza, CEO – Multi Technical Institute, said, that “At Multi Technical Institute we work with the region’s most forward thinking governments and organizations to bring cutting edge technologies to life. When we were set the task in August 2017 to build the region first City-Scale Blockchain solution – our R&D concluded that nothing of this scale existed from a global context. But with the SDG’s immense support and the efforts of our technology teams we were able to build and deliver a solution that is testament to Dubai’s vision to be the Blockchain capital of the world.

This is no small task that has been done – we are extremely grateful to teams from DEWA (Dubai Electric & Water Authority), KHDA (Knowledge and Human Development Authority) , NI (Network International) and Emirates NBD Bank for being the first adopters and participants of this platform. We are also extremely grateful to the SDG and SDO leadership and teams who put their faith and trust in us to bring this vision to life”

Multi Technical Institute as of now, is involved in many such implementations across a number of verticals in different territories and aims to create many more success stories with our customers and partners.

Multi Technical Institute in the press

https://gulfnews.com/business/sectors/technology/smart-dubai-integrates-blockchain-into-dubaipay-1.2281712

https://www.ccn.com/dubai-govt-upgrades-payment-portal-dubaipay-with-blockchain-technology/

https://gainbitcoin.com/dubai-govt-integrates-blockchain-technology-into-dubaipay/10947/