Elo.Network onboard Emaar – Dubai South Acting CEO Ahmed Al Ansari as Strategy and Regulation Advisor and shows a real case of blockchain implementation and a solution to scalability.
An Ethereum-based platform and a collection of decentralized software for Out-of-Home Vehicle based advertising transactions.
The network connects companies and brands interested in advertising on the platform to drivers interested in utilizing their cars as an advertising space to earn financial incentives.
The platform utilizes smart contract technology to verify transactions within the network, facilitate transaction transparency, and to keep a public record of transactions done on the network.
By utilizing off-chain State channels the Elo network reduces latency and transaction fees while maintaining blockchains trustless and immutable nature.
"Its an Honour to have Mr Ahmed AlAnsari onboard and his expertise will be vital towards our Middle East expansion plans and regulatory requirements for the success of the Elo Network."
Said Mohammed Khamas the CEO of Elo Network, who has been the CFO of Khamas Group one of the top 20 Largest Private companies in the Arab world.
"We have been running a proof of concept with several multinational brands and the response has been phenomenal "
Added Mohammed Bafaqih Co-founder of the Elo network who has been running Brand Impact a Managment Consultancy with Olayan, Alkhayat Investments and Burger King as clients.