Capstone Technology Secures Dhs 20 Million for ‘GAYA’ Blockchain Project

First Funding Round Closed to Propel UAE’s Blockchain and AI Initiatives

PC: cionews.co.in

Capstone Technology is one of the leading companies in the UAE, focusing on blockchain and AI. The company has closed its first funding round, raising around Dhs 20 million in investment. This will go to the ambitious new initiative by the company, which is “GAYA” Blockchain Project.

A Strategic Move Towards a Sustainable Digital Economy

As part of the “GAYA” project, a blockchain system along with an integrated network to be developed for growing entrepreneurship in various sectors, which come from entertainment, the gaming industry, artificial intelligence, and ESG standards. Innovative solutions will have to drive this sustainable digital economy.

On the project, Abdullah Al-Mousa Al-Maksour, CEO of Capstone Technology Group, noted that GAYA is strategically important. According to him, the new project is a strategic step toward creating an entrepreneurial environment based on the use of the latest technology to empower a new generation of entrepreneurs and uncover new horizons for growth in this direction.

Expansion of Technological Assets and Partnerships

To meet the objectives of GAYA, Capstone Technology shall purchase and manage technological assets in focus with Web 3 technologies and in mobile applications. This shall be delivered by a set of effective partnerships. According to Al-Maksour, new funds acquired are crucial to boosting the company’s platform, increasing the company’s presence within the UAE and across the Arab region, and offering new benefits to customers.

Therefore, the company is in preparation to lead the growing tech ecosystem in UAE, as blockchain and AI are being dramatically in need as day-by-day technologies are developing. These technologies form part of Capstone’s long-term strategy to promote entrepreneurship and spur innovation.

Alignment with UAE Digital Economy Vision

Al-Maksour said the GAYA project supports the UAE government’s broader vision for developing the digital economy. This project is part of efforts to integrate blockchain technology into entrepreneurial activities that are perceived to be of tremendous importance in accelerating growth in this sector.

The UAE has emerged as one of the world’s fastest-growing nations in the fields of artificial intelligence and blockchain as a world leader. Its ambitious plans have been highlighted through the country’s predictions that AI technologies will contribute about 14% to the nation’s GDP by 2030.

UAE’s Blockchain Strategy

More significantly, the UAE continued to emphasise the importance of blockchain technology by launching a national blockchain strategy for the entire decade running from 2021 to 2031. The strategy will aim at moving 50% of the country’s currencies to Blockchain-based systems, showing commitment to realising a tech-led economy.

Capstone Technology’s GAYA project is in a position to really help the government out in the strategy that is being put into action, positioning the company as a Blockchain frontrunner and a great contributor to the UAE digital transformation journey.