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Riyadh, Saudi Arabia, December 22, 2022 /EINPresswire.com/ — Saudi Arabia’s ATQEN Group supports Korean companies in the composition and structure of the Neom City project, one of Saudi Arabia’s mega-projects, employing a total of 10 Korean companies during Crown Prince Mohammed bin Salman’s visit to Korea November 17, 2022 . Designated as a consortium partner. In fields such as construction, IT, and energy that participate in Neom City, NEOM City will be constructed using advanced technologies from Korean companies. Among them, South Korea’s next-generation blockchain technology company Meta.N, “Meta.N stands out in the field of IT blockchain”. Meta.N and Sewon E&C (KOSPI: 091090, a listed company) newly established the Meta.N consortium to focus on this project after about 4 years of intensive technology development under the leadership of CEO Meen Eom. In fact, Meta.N and Sewon E&C have established a strategic partnership in the field of blockchain & NFT technology as early as 2021.
The Meta.N consortium plans to use Meta.N’s next-generation blockchain technology to create a digital currency for smart cities in Saudi Arabia, and use crude oil-based “stable coins” to create Neom City’s exclusive payment currency. coin’. The “Meta.N” consortium’s payment coin project also includes plans to create a crude oil-based “stable coin” that can be used on a daily basis in the Kingdom of Saudi Arabia and the United Arab Emirates. After discussions on how the Meta.N Consortium’s solutions specializing in the digital asset market will be combined with the Neom City project and the Meta.N Consortium’s crude oil-based “stable currency”, and through the future formulation of future strategies, the Meta.N Consortium plans to launch in Neom City Use blockchain technology.
ATQEN said that Neom City in Saudi Arabia is driving digital convergence, and they have high hopes for the role of Meta.N. ATQEN Holding plans to invest about 1 billion Saudi riyals (approximately 400 billion won) in Meta.N in Saudi Arabia, provide financial support to Korean companies operating in Saudi Arabia, and obtain technology and real estate development-related projects from the government An entity of the Kingdom of Saudi Arabia. Meanwhile, regarding the UAE business project, Meta.N CEO Meen Eom said, “We will build a system that can use Meta.N’s crude oil-based ‘stable currency’ to pay for resource transactions.”
He added, “In the Gulf Cooperation Council (GCC) countries, including the UAE, Meta.N’s payment currency can be used to pay and trade crude oil-based ‘stablecoins’. The world’s dependence on our crude oil-based stablecoins will Dramatic increase. Now, through our strategy of creating ‘stablecoins’ and incorporating DAG collateral/insurance solutions, crude oil will surpass its real world use and dominate the world of digital assets.”
Matt Young
Meta.N Group
+1 510-327-8235
pressmatt.y@gmail.com
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