Saudi Aramco, the world’s most valuable company worth nearly $2 trillion, has signed a memorandum of understanding (MoU) with droppGroup to explore the development of Web3 technologies. These applications will be used to help Aramco’s employees with on-boarding, training, and a tokenized network and rewards program. This collaboration between the two companies is a major step forward in the adoption of blockchain technology and its applications. It is expected to revolutionize the way businesses operate and provide a secure and efficient platform for the exchange of data and value.
Aramco, the Saudi Arabian oil and gas giant, has partnered with droppGroup, a Web3 technology provider, to explore blockchain technology. The collaboration is not the company’s first foray into blockchain, as they had previously invested $5 million into Vakt, a blockchain-based commodities post-trade processing platform. droppGroup’s tech stack includes AI, ML, XR, tokenized networks, and metaverse environments, and they have an operational office in Saudi Arabia. This partnership will allow Aramco to further explore the potential of blockchain technology and its applications in the oil and gas industry.
