DUBAI, UAE, Aug. 8, 2022 /PRNewswire/ -- Superior Business Solutions Inc., an innovative IT solutions provider from Florida, USA, with operations in the UAE, Kuwait, Qatar, and Egypt, has become the main distributor of Modex's blockchain-based products and services in the MENA region and Africa.
SBS's new partnership with Modex, a leading blockchain solutions provider, enables both parties to provide cutting-edge services that will transform the way data and digital assets are stored, shared, and managed, providing greater transparency and data integrity.
Through its partnership with Modex, SBS intends to provide the most innovative solutions and products with relevant blockchain-powered functionalities in multiple industries, including healthcare, businesses, and finance. This will allow the two companies to seamlessly integrate blockchain solutions with customers' existing data systems to achieve higher operational efficiency, security, and transparency.
"The blockchain market in the Middle East and Africa is expected to grow from US$ 199 million in 2021 to US$ 7.6 billion by 2028; it is estimated to register a CAGR of 68.3% from 2021 to 2028," SBS CEO Adel Youssef noted. "The government needs very fast-paced growth in sectors like healthcare, banking, telecommunication, logistics, and many others, and using blockchain-based solutions can help accelerate development across these sectors."
Mihai Ivascu, CEO and Co-founder of Modex, stated: "Given their experience and know-how with local and regional companies, appointing Superior Business Solutions as our main distributor in the MENA region and Africa was a logical decision. Thanks to this agreement, Modex will reach even more customers in these parts of the world, providing blockchain-based solutions that are perfectly tailored to their business needs."
Blockchain-as-a-Service market opportunity
According to Fortune Business Insights, the global Blockchain-as-a-Service (BaaS) market size was US$ 1.9 billion in 2019 and is expected to reach USD 24.9 billion by 2027, expanding at a CAGR of 39.5%. "Rising adoption of blockchain-as-a-service (BaaS) tools and services among small and medium enterprises to build their blockchain application, smart contracts, and payment systems is expected to drive market growth during the forecast period," says the report. In this context, companies of all sizes are looking into ways to access the advantages of BaaS services, such as smart decentralization, data immutability and integrity, high efficiency, cost-effectiveness, and strong security.
Modex Ledger DB: enterprise-grade BaaS
With Modex Ledger DB, an enterprise-grade platform built on the top of the Blockchain Database® (BCDB) solution, Modex is building relevant software applications to serve specific industries and use cases, which can be adapted and customized for each business based on a flexible subscription-based model.
Modex Ledger DB brings a suite of features that facilitate the rapid adoption of blockchain technology across every vertical and make the deployment process as seamless as possible. It allows businesses to interact with this technology in a simplified manner while offering the necessary support to ensure efficient and practical functionality. Furthermore, it has been designed with enterprise functionalities in mind to meet the most rigorous requirements for scalable, production-ready networks that integrate with legacy enterprise data systems.
Modex Ledger DB provides end-to-end blockchain-powered services that can scale up quickly without interruption, offering high security and stability. The solution is easy to deploy and use and provides enhanced administrative features to help companies build enterprise-ready blockchain networks.
Modex's highly skilled team of around 100 members across four offices – London, Bucharest, Silicon Valley, and Gibraltar – has been working to prepare and deploy relevant software applications on top of our Blockchain-as-a-Service solution that can support a wide range of use cases and facilitate the seamless integration of blockchain technology into enterprise-level products and services.
SBS's team of professionals is scalable to requirements to provide design, build, and integrate multiple and varied smart solutions whether for business or healthcare that serve different sectors (administrative, clinical, and financial) for large and federal government levels in The MENA Region and Africa to empowers businesses to manage their daily functions smoothly and effectively.