Emerging company XGUARD to educate local Saudi businesses on new tech

1 / 4
2 / 4
3 / 4
4 / 4
Short Url
Updated 05 July 2022

Emerging company XGUARD to educate local Saudi businesses on new tech

RIYADH: Non-fungible tokens and blockchain technologies took the world by storm, dominating everything from the art space to advertising. Web3, a new blockchain-based version of the internet, and the metaverse are still fairly new concepts, but it seems like they are here to stay with more and more people — and businesses — experimenting with them.

XGUARD, for example, is an emerging company with offices in Riyadh, Dubai and Vienna, helping organizations and individuals navigate Web3 and the virtual space “one block at a time.”

In Riyadh, the company has been actively hosting informational sessions and workshops to help equip Saudis with the skills and tools needed to venture into Web3, open their own wallet, invest in or sell NFTs, grow their businesses and engage in virtual experiences. 

XGUARD first started as a sports promotion company in Dubai. After its founder Omar Aridi began venturing into these emerging technologies, his interest in them grew.

The industry in Saudi is still at a nascent stage, Aridi told Arab News.

He said: “I was planning on working in a very decentralized way. Saudi wasn’t just my focus, but then after reading the market and seeing how things are going, I think Saudi has the most appetite when it comes to [this space].” 

Just last month, the Saudi Tourism Ministry and Saudi Tourism Authority created NFT souvenirs that were presented to the heads of delegations participating in the 116th session of the UN World Tourism Organization executive council, held in Jeddah.

“Vision 2030 and the whole direction of digital transformation and blockchain technologies and artificial intelligence — this makes it the perfect platform for us,” Aridi said. “The only bottleneck that we had were the cryptocurrency regulations, which I know are on the way. I think it’s better to be the first movers from now and the first adopters. When things get regulated, we know we will be the go-to consulting company here.”

Since cryptocurrencies are the most commonly used mode of payment in the metaverse, their lack of regulation has resulted in businesses being wary of entering this space. 

“The lack of trust comes from the lack of regulation, not from the technology,” Aridi said. “You need to pay with cryptocurrency, and that is the element that has not yet been regulated.”

In the Gulf region, the UAE has been spearheading the regulation of NFTs and cryptocurrencies by issuing the first cryptocurrency law and establishing the Dubai Virtual Assets Regulatory Authority.

For businesses, enterprise NFT technologies themselves are key. “It brings a very well authenticated ownership documented on the blockchain. Nobody can erase it, and nobody can penetrate it,” Aridi said. 

In certain industries, having verified proof of ownership and secured data records can cut down on processing time, reduce fraud and error risks, provide immutable authenticity of products, manage critical data and ease the supply chain process.

Although the NFT, bitcoin and Ethereum markets are currently down as a result of cryptocurrencies crashing, Aridi is optimistic. “​​This is very good because the market has to [course] correct,” he said. “Hopefully, only the few proper solid value propositions will be sustained and XGUARD will be one of those because we are thinking of NFTs as a technology, not as a hype.” 

XGUARD provides companies with Web3 consulting, marketing, art and blockchain development, all under one roof. “In terms of competition, I don’t see anyone offering the value proposition that we provide, which is advisory, A-to-Z solutions. Nobody in Saudi Arabia is doing that yet,” said Aridi. 

For now, the company is adopting a predominantly educational approach. It has collaborated with local spaces and businesses, such as AlMashtal Creative Space in Riyadh and The Music Space in Jeddah, to build communities across the country. 

“We have a lot of artists, in Saudi Arabia specifically, that really want to be heard, that really want to improve their business,” Aridi said. “For entrepreneurs, if they have an idea, we sit with them, we scope it, we shape it, we come up with a strategy together and we help them launch it. The idea is to basically create success stories.”

Related


Russia’s watchdog imposes measures against TikTok, Telegram, Zoom, Discord, Pinterest

Updated 19 August 2022

Russia’s watchdog imposes measures against TikTok, Telegram, Zoom, Discord, Pinterest

  • Russia's watchdog Roskomnadzor fined the companies for failing to remove content that it had flagged as illegal

MOSCOW: Russia’s state communications watchdog Roskomnadzor said on Friday that it was taking punitive measures against a string of foreign IT companies, including TikTok, Telegram, Zoom, Discord and Pinterest.
In a statement, Roskomnadzor said that the measures were in response to the companies’ failure to remove content that it had flagged as illegal, and would remain in place until they complied. It did not specify what measures would be taken.
Russia has repeatedly threatened to fine sites — including Google, that violate harsh new laws criminalizing the spreading of “false information” about the Russian army.
On Tuesday, Russian courts fined US-based live streaming service Twitch 2 million roubles ($33,000) and messenger service Telegram 11 million roubles ($179,000) for violating military censorship laws.


Elon Musk targets ad tech firms in Twitter suit over takeover deal

Updated 19 August 2022

Elon Musk targets ad tech firms in Twitter suit over takeover deal

Billionaire entrepreneur Elon Musk, who is attempting to walk away from his deal to acquire Twitter Inc. , is seeking documents from advertising technology firms as part of his quest to gain more information on bot and spam accounts on Twitter, according to filings in a Delaware court on Thursday.
Twitter has sued the Tesla chief executive, who has accused Twitter of hiding information about how it calculates the percentage of bots on the service, for attempting to walk away from the $44 billion agreement. A trial is scheduled for Oct. 17.

Musk’s lawyers have subpoenaed both Integral Ad Science (IAS) and DoubleVerify for any documents or communications on their involvement in reviewing accounts or participation in any audit of Twitter’s user base.
IAS and DoubleVerify, which are both based in New York, use technology to independently verify that digital ads are viewed by real people. Advertisers use the services to ensure the ads they pay for are seen by potential customers and not automated bots.


Twitter, IAS and DoubleVerify did not immediately respond to requests for comment.
In response to a tweet by a user who questioned how Twitter audits its service and also linked to a Reuters story on Musk targeting the ad firms, Musk tweeted: “Those are the questions that Twitter is doing everything possible to avoid answering …“
In a countersuit earlier this month, Musk claimed that Twitter’s monetizable daily active users are 65 million lower than what the company has touted. Twitter has said it stands by its disclosures.
The metric measures users who log onto Twitter through the website or apps that are able to serve ads or used paid products like subscriptions, according to Twitter filings.


Apple warns of security flaw for iPhones, iPads and Macs

Updated 19 August 2022

Apple warns of security flaw for iPhones, iPads and Macs

  • Apple released two security reports about the issue on Wednesday

SAN FRANCISCO: Apple disclosed serious security vulnerabilities for iPhones, iPads and Macs that could potentially allow attackers to take complete control of these devices.

The company said it is “aware of a report that this issue may have been actively exploited.”

Apple released two security reports about the issue on Wednesday, although they didn’t receive wide attention outside of tech publications.

Security experts have advised users to update affected devices — the iPhones6S and later models; several models of the iPad, including the 5th generation and later, all iPad Pro models and the iPad Air 2; and Mac computers running MacOS Monterey. It also affects some iPod models.

Apple’s explanation of the vulnerability means a hacker could get “full admin access to the device” so that they can “execute any code as if they are you, the user,” said Rachel Tobac, CEO of SocialProof Security.

Those who should be particularly attentive to updating their software are “people who are in the public eye” such as activists or journalists who might be the targets of sophisticated nation-state spying, Tobac said.


StarzPlay partners with Virgin Mobile in Kuwait

Updated 18 August 2022

StarzPlay partners with Virgin Mobile in Kuwait

  • The telecoms company’s subscribers on selected plans will get free access to the streaming service
  • StarzPlay is one of Virgin’s first partners in Kuwait to offer free subscriptions bundled with mobile plans

DUBAI: Streaming platform StarzPlay has partnered with Virgin Mobile to offer the telecoms company’s subscribers in Kuwait free access to its library of movies and TV shows.

Virgin Mobile users who sign up for selected monthly, six-monthly or annual plans will receive a free StarzPlay subscription. The cost of eligible mobile plans range from 7 Kuwaiti dinars ($23) to 19 dinars a month.

StarzPlay is one of Virgin Mobile’s first partners in Kuwait to offer free subscriptions bundled with mobile plans as a value-added benefit for customers.

“Bolstering our telcos (telecommunications companies) portfolio has been a strong focus for us from the start,” said Raghida Abou Fadel, StarzPlay’s senior vice-president of business development and sales. “Virgin Mobile has been a strong partner for us across the region.”

Last year, for example, StarzPlay partnered with Virgin Mobile in Saudi Arabia to offer free subscriptions to customers with selected plans.

“We want to make content easily accessible for our subscribers in the MENA (Middle East and North Africa) region, and partnering with local telco players offers us a great opportunity to reach and connect with newer audiences,” said Abou Fadel.

Benoit Janin, the CEO of Virgin Mobile, said: “Our continued partnership with StarzPlay highlights our commitment to providing excellence and additional benefits to our customers and we are excited to extend this partnership in Kuwait.”

StarzPlay is home to original shows such as “Baghdad Central,” “Power,” and “Vikings,” among others. It also offers Western classics such as “The Big Bang Theory” and “The Office,” as well as Arabic and anime content.

It ranks among the region’s top three subscription video-on-demand services, according to the company, and is available in 19 countries across the Middle East, North Africa and Pakistan.

Related


CNN cancels ‘Reliable Sources,’ host Stelter leaving network

Updated 18 August 2022

CNN cancels ‘Reliable Sources,’ host Stelter leaving network

  • The show will have its last broadcast this Sunday.
  • CNN has been looking to cut costs but also to put forth a less opinionated product

NEW YORK: CNN has canceled its weekly “Reliable Sources” show on the media, and said Thursday that its host, Brian Stelter, is leaving the network.
The show will have its last broadcast this Sunday.
CNN has been looking to cut costs but also to put forth a less opinionated product. Stelter has written a book, “Hoax: Donald Trump, Fox News and the Dangerous Distortion of Truth” and been critical of Fox News, making him a frequent target of the CNN’s conservative critics.
Stelter came to CNN from The New York Times, where he was a media writer.
“He departs CNN as an impeccable broadcaster,” said Amy Entelis, executive vice president of talent and content development at CNN. “We are proud of what Brian and his team accomplished over the years, and we’re confident their impact and influence will long outlive the show.”
Stelter said that he was grateful for his nine years at CNN, proud of the show and thankful to its viewers.
“It was a rare privilege to lead a weekly show focused on the press at a time when it has never been more consequential,” he said. “I’ll have more to say on Sunday.”
The “Reliable Sources” newsletter, a daily compendium of the media’s big stories, will continue and will be led by CNN senior media reporter Oliver Darcy.

Related