week, Luxcore announced that it would seek to build a strong network of
global business partnerships in the Middle East and North Africa (MENA)
region over the coming months.
are delighted to confirm that this process has already got off to a
successful start. Luxcore has today signed a Memorandum of Understanding
(MOU) with TEQNOBLOC, a renowned technology and digital transformation
consulting firm, in order to jointly develop blockchain products and
undertake consultation and services projects in the MENA region.
Blockchain is increasingly becoming a budgeting priority for many countries around the world. Although North America, Europe, and Asia are the traditional technology leaders, one region that is making a large impact in the blockchain space may come as a surprise to some. “Middle East and North Africa (MENA) IT spending is projected to reach $160 billion in 2019, a 1.8 percent increase from 2018,” according to the latest forecast by Gartner, Inc. MENA is also increasing its budget for blockchain spending and not surprisingly almost doubling it every year until 2021.
Looking further ahead (and including all of the African continent), the International Data Corporation (IDC) forecasts “blockchain spending in MEA to reach $307 million in 2021, which represents a compound annual growth rate (CAGR) of 77.4% for the 2016–2021 period.” IDC goes on to indicate that the most popular blockchain use cases in 2021 will be cross-border payments and settlements, assets/goods management and identity management. These three areas alone will account for a third of MEA’s overall blockchain expenditures in 2021.
We are proud to announce that Luxcoin has been officially integrated into ivendPay’s integrated point-of-sale payment system. ivendPay is the world’s first multi-currency payment system for enabling payments in any cryptocurrency, digital or fiat currency.
ivendPay is the world’s leading solution for enabling mobile payments for any type of goods and services via QR-code. ivendPay vendors accept a myriad of fiat and cryptocurrencies, now including LUX. They currently have two products: a payment module for vending machines and a mPOS terminal.