First sessions of Ramadan Council in Sharjah Innovation Park

The session comes within the keenness of the Sharjah Research, Technology and Innovation Park to raise awareness among young people and young investors and entrepreneurs, on the emerging technologies and the new global concepts.
 
Hassan Al Mahmoudi, Executive Director of the Sharjah Research, Technology and Innovation Park (SRT Park), stressed the need to pay attention to national entrepreneurs and direct them to focus on modern technologies. Hassan Al Mahmoudi said that through these Ramadan sessions, SRT Park aspires to introduce the companies operating in the complex, especially national companies and young entrepreneurs.

Al Mahmoudi said that crypto currency technologies have been highlighted today as they are promising technologies and have great opportunities for the economic sector and through these Ramadan sessions, SRT Park aspires to shed light on Eimrati entrepreneurs and modern technologies to build economic entities that support local economy.
 
During the first session, attendees were introduced to a non-fungible token (NFT) which is a unique and irreplaceable unit of data stored in a digital record (blockchain). NFTs can be used to represent reproducible objects such as photos, videos, audio, and other types of digital files as unique objects (similar to a Certificate of Authenticity), using blockchain technology to create a public and verified proof of ownership, copying the original file is not limited to the owner of the NFT, and it can be copied and shared like any file. These tokens are distinguished from other cryptocurrencies by not being exchangeable.
 
The first NFT project was launched in 2015 on the Ethereum blockchain, and interest has increased with the increase in interest in crypto currencies. The interest and total cash value of NFTs grew significantly in 2021, with sales of NFTs exceeding $2 billion during the first quarter of 2022.