Emerging company XGUARD to educate local Saudi businesses on new tech

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Updated 05 July 2022
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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.”


Pope Francis warns of ‘fanaticism, hatred’ in social media

Pope Francis (R) waves as he leaves the weekly general audience at Paul-VI hall in the Vatican on January 22, 2025. (AFP)
Updated 25 January 2025
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Pope Francis warns of ‘fanaticism, hatred’ in social media

  • The pope’s admonition comes as X, owned by Elon Musk, has been accused of spreading false information while interfering in European politics, in particular for attacking leaders including German Chancellor Olaf Scholz and British Prime Minister Keir Starm

VATICAN CITY: Pope Francis denounced an era of “disinformation and polarization” on Friday in a message for World Communications Day, as he criticized powerful social networks creating “fanaticism and even hatred.”
In saluting journalists, he spoke of their collective responsibility working “in these our times, characterised by disinformation and polarization, as a few centers of power control an unprecedented mass of data and information.”
The 88-year-old pope — who has warned in the past of the dangers of new technologies, including social media and artificial intelligence — did not cite Facebook or X by name, but his target was evident.
“Too often today, communication generates not hope, but fear and despair, prejudice and resentment, fanaticism and even hatred,” the pope wrote in his message.
“All too often it simplifies reality in order to provoke instinctive reactions; it uses words like a razor; it even uses false or artfully distorted information to send messages designed to agitate, provoke or hurt.”

FASTFACTS

• The 88-year-old pope — who has warned in the past of the dangers of new technologies, including social media and artificial intelligence — did not cite Facebook or X by name, but his target was evident.

• In a speech quoting Martin Luther King Jr., Francis said he dreamed of ‘communication that does not peddle illusions or fears, but is able to give reasons for hope.

The pope’s admonition comes as X, owned by Elon Musk, has been accused of spreading false information while interfering in European politics, in particular for attacking leaders including German Chancellor Olaf Scholz and British Prime Minister Keir Starmer.
The billionaire also used his platform and vast wealth to help propel Donald Trump to the White House.
Meta has also come under fire after its chief Mark Zuckerberg said this month that Facebook would end its third-party fact-checking program in the United States, in what critics warned would further fuel false information online.
In a speech quoting Martin Luther King Jr., Francis said he dreamed of “communication that does not peddle illusions or fears, but is able to give reasons for hope.”
He warned, however, of algorithms that feed social media users information that is specifically catered to their interests and prejudices.
Such “digital systems... by profiling us according to the logic of the market, modify our perception of reality,” he said.
“As a result, we witness, often helplessly, a sort of atomization of interests that ends up undermining the foundations of our existence as a community, our ability to join in the pursuit of the common good, to listen to one another and to understand each other’s point of view.”
Earlier this month, in his New Year’s address to Vatican diplomats, Francis lamented increasing polarization in society, “aggravated by the continuous creation and spread of fake news.”
Francis himself is a frequent target of unfounded rumors and manipulated photos online.

 


Fearless Saudi 13-year-old launches Vision 2030 podcast

Updated 24 January 2025
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Fearless Saudi 13-year-old launches Vision 2030 podcast

  • Teenager aims to educate the public about Kingdom’s vision
  • Overcame public speaking fears to become podcaster

RIYADH: Saudi Linda Al-Faisal, who is only 13, aims to make an impact through her podcast, Linda Vision 2030, with each episode featuring a guest trailblazer.

Through her podcast, she connects with thousands of local and international subscribers, engaging in conversations about the Kingdom’s vision.

In her first episode, titled “How Saudi Arabia Became a Global Hub,” she discusses the projects being driven by the Kingdom, led by Crown Prince Mohammed bin Salman, claiming “Saudi Arabia is no longer the land you once knew.”

In her third episode, Al-Faisal interviewed Tamim Turki, a teenage Saudi sports presenter.

Then, in her fourth episode, Al-Faisal sat down Hassan Yusuf, program director for Saudi Arabia’s Real Madrid foundation, where the pair discussed the role of youth in achieving the goals of Vision 2030.

When she was five years old, Al-Faisal was interested in becoming a ballerina, and after being enrolled in classes she later fulfilled her childhood dream. Today, she is a ballerina as well as a podcast host.

Influenced by her friends, who have their own podcast, Al-Faisal decided to create her own platform.

“Why I chose (the topic of) Vision 2030 is because many people don’t know what it talks about or what is going to happen. So, I decided to search and learn more about Vision 2030 so I can teach the people.

“The biggest goal that I want to achieve from my podcast is that I want to make every listener feel proud with all the developments and changes happening in Saudi Arabia.”

After years of presenting at school, facing her fears, Al-Faisal became a natural public speaker, learning communication techniques through observation and practice to become an effective presenter.

“I used to be nervous while presenting during my first time in school. We all learn from our mistakes, and I learned from mine and became stronger. The speeches I used to present in school made me more powerful.”

Al-Faisal’s ballet talent earned her third place in the “Creative Journey Around the Kingdom,” a program launched by the General Entertainment Authority in collaboration with MBC Academy, which sets out to identify local talent.

Al-Faisal’s message to teenagers is to keep dreaming and always stay positive.

“Do not let negative thinking destroy you. Always focus on yourself because you are the main character of your life.”


Sky News Arabia opens new headquarters, announces fresh programming

Updated 23 January 2025
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Sky News Arabia opens new headquarters, announces fresh programming

DUBAI: Sky News Arabia, part of media group IMI, has opened its new headquarters in the same building as the IMI HQ on Yas Island, Abu Dhabi.

The new HQ features advanced broadcasting studios fitted with the latest AI technologies, the company said.

Sky News Arabia has also launched a new programming grid covering politics, lifestyle, sports, business and entertainment.

The announcements come 12 years after the channel’s launch.

They mark a new chapter that “embodies our forward-thinking strategy to anticipate and exceed audience expectations by embracing cutting-edge technologies and delivering diverse, engaging programming that transcends borders, setting new benchmarks for excellence,” said Rani Raad, CEO of IMI and president and operating partner of Redbird IMI.

The company has been working over the past year to elevate “the way each of the media companies within our network engage with audiences, to ensure we continue to deliver content that truly resonates,” he added.

The new programming will include shows such as “Studio One” hosted by Fadila Souissi, which will highlight political and societal issues, and the “Emad Eldin Adib” show, which will focus on politics in the Arab world.

Sky News Arabia is also expanding its lineup of non-political shows. The “Al Sabah Show” will return, featuring segments on health, fashion, law, and celebrities. It will be hosted by Maha Abdullah, Ahmed Qassem, Hani Ziadeh, Christine Dagher and Lubna Mansour.

The show will extend to digital channels and social media platforms through 12 specifically tailored mini-segments.

“In an era of rapid change and information overload, we are committed to empowering our audience with the tools to navigate and discern credible news,” said Nadim Koteich, general manager of Sky News Arabia.

He added: “By providing transparent, engaging and diverse content across politics, economics, lifestyle and technology, we ensure that Sky News Arabia remains a credible source of information that meets the dynamic needs of our viewers.”


Benefits of AI economy must be equitably distributed, says UN tech envoy in Davos

Updated 23 January 2025
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Benefits of AI economy must be equitably distributed, says UN tech envoy in Davos

  • Amandeep Singh Gill seeks ‘global’ efforts to tackle digital divide
  • ‘We need to have a more collaborative and respectful approach’

DAVOS:The power of artificial intelligence and quantum computing must be harnessed to benefit nations across the world, not only developed economies, said Amandeep Singh Gill, the UN’s envoy on technology, on Thursday.

Speaking during a panel titled “From High-Performance Computing to High- Performance Problem Solving,” Gill said that countries in Africa, for example, hold less than 0.5 percent of graphic processing units worldwide.

Also participating in the discussion were Georges-Olivier Reymond, co-founder and CEO of PASQAL; Ana Paula Assis, senior vice president and chair IBM EMEA and Growth Markets; and Paul Alivisatos, president of the University of Chicago.

“My challenge is to convince policymakers who have limited resources to invest in the digital divide, data and AI and quantum development as well,” explained the envoy.

“There is a backlash against the neo-colonial situation, where the tech is developed in just a few geographies, and the rest of the world is takers of this tech. You can call it the sovereignty backlash … we need to have a more collaborative and respectful approach,” he added.

When asked by panel moderator Azeem Azhar, CEO of Exponential View, about the risk of uncertainty in the field of quantum computing, Gill said he sees an opportunity more than a risk.

“We are at an early stage in terms of the science and technology of developing things so different technologies might be used. A degree of uncertainty and diversity is important,” he added.

But the envoy emphasized the need to have a unified global force that would ensure everyone can participate in this area of technology.

“When we look at the global majority, not everyone will be able to use quantum computing, the cryptographic effort has to be global, it can’t be isolated,” he said.

Gill said the world is shifting toward quantum infrastructure in order to reduce energy consumption. According to the envoy, today’s AI systems consume a great deal of energy.

The UN deemed 2025 as the “International Year of Quantum Science and Technology.” This initiative aims to celebrate quantum mechanics and educate people on its impacts on technology, culture, and understanding of the world.


Al Jazeera says the Palestinian Authority arrested one of its reporters

Updated 23 January 2025
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Al Jazeera says the Palestinian Authority arrested one of its reporters

  • The Qatar-based news network reported that its reporter Mohammed Al-Atrash was arrested from his home

The Al Jazeera news network says the Palestinian Authority arrested one of its reporters after preventing him from covering an Israeli operation in the occupied West Bank.
The Qatar-based news network reported Thursday that its reporter, Mohammed Al-Atrash, was arrested from his home.
It said Palestinian security forces had earlier prevented him from reporting on a large Israeli military operation in Jenin, an epicenter of Israeli-Palestinian violence in recent years. The Palestinian Authority launched its own crackdown on militants in the city late last year.
There was no immediate comment from the Palestinian Authority.
Both Israel and the Western-backed Palestinian Authority banned Al Jazeera last year. Israel accuses it of being a mouthpiece of Hamas over its coverage of the war in the Gaza Strip and says some of its reporters are also militants.
The pan-Arab broadcaster has rejected the allegations and accused both Israel and the Palestinian Authority of trying to silence critical coverage.
The internationally recognized Palestinian Authority administers parts of the Israeli-occupied West Bank and cooperates with Israel on security matters. It is unpopular among Palestinians, with critics portraying it as a corrupt and authoritarian ally of Israel.