Meet Abu Dhabi’s blockchain and decentralisation wunderkind

“All industries are the same – you have to stay away from the people who have a propensity toward jargon and toward trying to create their little islands of expertise. Instead, just think about what a company actually does – there’s no need to complicate it.”

If ever a quote summed up 2020 and the world’s hyper-fast transformation into a more practical approach to employees working from home and the realisation that the building blocks of technology are now the building blocks of society, it’s this wisdom from Derick Smith, founder and CEO of AmmbrTech Limited.

The company, founded in Luxembourg in 2016, has now moved its headquarters to Abu Dhabi, which has been in the news a lot lately for attracting globally enduring technology companies many of which have been snapped up by the likes of Uber and Amazon.

Smith, who opened his first company at the age of 19, says one of the reasons for the move was the UAE’s forward thinking: “I was monitoring the evolution of crypto and blockchain for some years, and as things started to evolve, Abu Dhabi Global Market caught my eye. They have some really elegant, well-thought-out crypto regulations being developed in their jurisdiction,” he explains.

Blockchain in Abu Dhabi

The UAE is the seventh country that Smith, originally from South Africa, has opened up a company in and he says it’s been the best in terms of both infrastructure and regulations.

The UAE has been by far the easiest to do business in so many ways,” says Smith. “Working with Hub71 was absolutely sterling – the support, the speed at which things happen. It was so smooth. The visas, the willingness of people to talk to you, have meetings, assist you – all of that was brilliant.

“The office was ready the day we landed. And to be honest, they’re getting better all the time so someone joining Abu Dhabi’s tech or AI and blockchain scene now would find it even easier.”

AmmbrTech’s offering was intriguing pre-Covid-19, but now with digital transformation and decentralisation at the forefront of most companies’ minds, the move to a country that has a push to create new technology as part of its government’s goals from now until 2030 seems a smart one.

The company’s remit is twofold: firstly, to provide broadband to underserved countries and secondly, developing an edge-cloud infrastructure that’s highly inclusive of local communities and businesses. And it deploys a raft of leading technology, including AI and blockchain to do it.

Smith explains: “We want to get broadband in the hands of people who are underserved today – which is pretty much half the planet – as we enter new markets, if we come across customers or areas where there’s no broadband, we can quickly scale it out.

Edge-cloud solutions

“Regarding the edge-cloud, it’s very much built around the principle of self-sovereign digital identity. Where your identity – the private key that manages your credentials rests with you – our entire organisation is built around those principles and operates on them. We’re able to build hyper-local markets and shorter supply chains. And that’s the big lesson from Covid – you’ve got to shorten the supply chain and become more self-sufficient. The edge-cloud infrastructure and decentralised marketplace allows us to achieve greater diversity of marketplaces, cultures and localities,” says Smith.

And that commitment to diversity is something that both the Abu Dhabi government and AmmbrTech share, he summarises: “Abu Dhabi is doing an exceptionally good job attracting talented people to come here and make sure a lot is happening in the tech scene. The team at Hub71 went above and beyond to introduce us to corporates and decision-makers and to the help us network. The dialogue is there if you want to pick it up, it’s up to you.”

The future is here: Register now for Barcelona’s New Economy Week

Barcelona New Economy Week (BNEW) starts this Tuesday with the goal of turning the Catalan city into the "global capital of the new economy".

BNEW runs from 6 to 9 October, with registration remaining open throughout the event, offering insight from 350 speakers on how businesses can bounce back from the impact of the coronavirus pandemic. It will feature top speakers from the business sectors of real estate, logistics, digital industry, e-commerce and economic zones.

The hybrid, business-to-business event – which is taking place in physical and virtual forms – is organised by Consorci de la Zona Franca (CZFB) and will showcase the way in which Barcelona is preparing for the post-Covid world and the "new economy". It is the city’s first big business event of the year and aims to help revitalise and restart the local economy.

“BNEW will be the first great event for the economy’s global recovery that will allow the redesigning of the productive fabric,” says Pere Navarro, state special delegate at CZFB. “It is an honour to have the participation of renowned professionals and attendees from all around the world.

“As we are not in a position to do a proper ‘in person’ fair, we decided to adapt by creating a disruptive and useful event in this way to relaunch the economy.”

The conference will encompass five interconnected events incorporating real estate, logistics, digital industry, e-commerce and economic zones. More than 8,000 professionals from 91 countries from all over the globe will take part virtually. A further 1,000 delegates are expected to attend the five events in person. Over 200 speakers will take part physically, while the rest will give their talks via a digital platform especially created for the unique event. An advanced digital networking platform – using artificial intelligence – will cross-reference the data of all those registered to offer a large number of contacts and directly connect supply with demand.

The conference will also be simultaneously broadcast in high-quality streaming on six channels, one for each of the five interconnected events and an additional stream showcasing Barcelona’s culture and gastronomy.

BNEW will take place in three venues in the city: Estació de França, Casa Seat and Movistar Centre. All are open, digital spaces committed to the United Nations’ 2030 Agenda. Estació de França will host the BNEW Logistics, BNEW E-commerce and BNEW Real Estate events, while Casa Seat will be home to the BNEW Economic Zones event, and the Movistar Centre will host the BNEW Digital Industry.


Some 36 companies are sponsoring BNEW, and 52 start-up companies will take part and present their highly innovative products and services. A further 128 firms will participate in BVillage, a kind of virtual stand where they can show their products and schedule meetings with potential clients.

Highlight sessions will include: "the era of humankind toward the fifth industrial revolution," by Marc Vidal, a digital transformation expert; "rational optimism," by Luca Lazzarini, a commercial communications specialist; and "future smart cities’ challenges and opportunities," by Alicia Asín, a leading voice on artificial intelligence. Sandra Pina will also talk about how sustainability is transforming us, Jorge Alonso on the humane future of cities and Pilar Jericó on how to face changes in the post-Covid era.

BNEW is described as a new way of developing your know-how, expanding your networks and promoting innovation and talent.

“Networking is always one of the main attractions of the events, so to carry it out in this innovative way at BNEW – with the high international profile it boasts – is a great opportunity for companies,” says Blanca Sorigué, managing director of CZFB.

Readers can register for BNEW for free via this link using the discount code BNEWFREE.