Dubai-based investment company Relam Investment has launched a Blockchain technology ecosystem called Hetachain, and an initial coin offering that will help to fund the venture.
Hetachain is billed as a “third generation” blockchain network, which can be used for public and private purposes.
The Hetachain ecosystem consists of smart contracts, coins, a wallet, an app store and various solutions that make it applicable for smart banking, healthcare, e-commerce, trade, telecommunications, data management, investment, cash exchange and remittances.
Sultan Ali Lootah CEO Hetachain
The technology is designed to overcome some of the problems that have become synonymous with first and second generation Blockchain technology, namely network congestion, slow transactions, high network fees, and high-energy consumption.
“Hetachain is designed to be a diversified ecosystem crossing various sectors such as; finance, healthcare, retail, trade, transport and will always upgrade with the changes happening in our societies,” said Sultan Ali Lootah, Chairman and CEO of Hetachain.
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