The Zone Speaks With Blockchain Specialist, Block Gemini So You Can Learn How Blockchain Solutions Can Benefit Your Business.
The Zone: Would you please provide us with a little background on Block Gemini?
Block Gemini opened and gained its trade license in June 2017. It is a UAE company and was founded primarily because of the well-run Smart Dubai initiative and the government’s interest in starting to use blockchain technology. This opportunity allowed the company to develop and expand and Block Gemini now has offices in three countries: the UAE, India and Luxembourg.
The Zone: What exactly is blockchain technology, and what do people use it for?
Blockchain technology is known mainly for converting traditional paper contracts to smart contracts, which enable customers to get work done easily and efficiently. How does the smart contract work? It works with a computer code that allows all different types of documents to be legal. Using this form of technology, you can find out whether any of the parties is right or wrong, along with penalties given to people at fault.
The computer code is important as it is considered the ‘court’ that provides litigation.
The Zone: How does the blockchain technology affect research and development?
There are traditional and advanced ways to address databases or smart contracts using blockchain’s ledgers technology. For research and development, if it’s a healthcare company, for instance, that inputs information for research, blockchain technology can be utilised to make sure if the details are correct or fake. It also gives information on the party that issued the article and was in control.
The Zone: What are some of the challenges and dilemmas that you faced during the implementation of blockchain technology?
Numerous people around the world in different industries are trying to use blockchain technology because they know it has many advantages. In reality, they are also struggling to understand the idea behind it or how complicated it is. Many of these people assume that issues solved by the blockchain are unnecessary, but this form of technology does more than they assume. Block Gemini’s CEO has been trying to explain the idea behind this technology to people and show them its advantages.
The Zone: What are some of the core values or the philosophies that Block Gemini follows?
Block Gemini mainly focuses on businesses; it works only with an established company or organisation to focus on improving the business environment. It is trying to eliminate information that turns out to be doubtful or fake in an attempt to increase efficiency.For example, the creation of connections between two airports to share data is made easier when using blockchain technology.
The Zone: Are you looking forward to putting blockchain technology into large-scale production?
Block Gemini is working on a massive project coming to Europe, and there are a few Fortune 500 companies that the company is working with right now.
The Zone: What are some of the industries that Block Gemini is working with?
Block Gemini is currently working with myriad different industries, including oil, gas, telecommunications, real estate, logistics, pharmaceutical and supply chain in various countries around the world.
The Zone: What are the vision and the mission of Block Gemini?
As Block Gemini is transitioning to a platform player, it is building new products for different enterprises. The purpose behind this is to make the task easier and more efficient for the industries that already struggle with a lot of details regarding business.
The Zone: What is Block Gemini’s target market?
Block Gemini’s target markets include countries from the GCC, Western Europe region, and Asia Pacific partners.