Dubai-based Relam Investment has announced its investment in blockchain 3.0 technology. The project, namely Hetachain Network, is said to help governmental services, businesses, organizations build Dapps (decentralized applications) and bring Dapps into real life in several industries including banking, IoT, robotics, healthcare, e-commerce etc.
Heta.org will be launching on September 12th 2018, opening a new generation of blockchain technology, blockchain 3.0.
CEO, HETACHAIN & RELAM
As said in its whitepaper, in spite of the fact that blockchain technology is a potentially groundbreaking innovation in how data is created, shared, and edited, it is still facing a critical problem: performance. Therefore, Hetachain proposes new blockchain architecture, positioned as an easy-to-use, flexible for users and developer with high-performance blockchain platform.
OverView of the Event
MainChain is the public chain of Heta Blockchain system and is validated by 33 master nodes using BFT and DPoS hybrid consensus algorithm. Every activity of the system will be committed to Mainchain. To communicate between private chains and the MainChain of the Heta system, it develops Heta Protocol which can help private chains summit their data to the MainChain for validating. And each private chain needs to pay the usage fee via Hetacoin - an internal crypto-currency to use inside the MainChain.
“Hetachain is building the most powerful infrastructure for other private blockchains as well as for 3rd parties' decentralized applications globally, which facilitate our real world of business on top of blockchain technology.
That means Hetachain makes the 4.0 industry revolutionary comes true, in the real life,” said Sultan Ali Lootah, Chairman and General Manager of Relam and also CEO of Hetachain, who has held numerous high ranking positions in both government and private sectors in the UAE.
Led by a team with rich experience in both government and private sectors, Relam target to raise a minimum of $500 million to develop Hetachain and its ecosystem with an emphasis on applications for worldwide smart cities.
RELAM INVESTMENT LLC Signs Investment Partnership
RELAM INVESTMENT LLC Signs Investment Partnership
Among multiple industries including real-estate, energy, oil & gas, trading, healthcare, F&B, retail and agriculture, Relam Investnent is putting its focus on technology-driven areas. Prior to this project, in May, the company entered the Indian market with an initial commitment to invest $300 million in real estate and technology over the next five years.
It signed a cooperation agreement with local RRP S4E Innovation Pvt. Ltd in setting up renewable energy plants using CIGS, one of the most cutting-edge Nano-technologies in the renewable sector. The partnership will be followed by the establishment of a unique Electro Optics park, as a part of its program.
Apart from the UAE, Vietnam and India, the Dubai-headquartered firm also operates in Egypt, Turkey and the UK…