siliconindia | | DECEMBER 20239QANPLATFORM INKS USD 15 MILLION VC DEAL FOR LAYER 1 BLOCKCHAINQANplatform, the quantum-resistant Layer 1 blockchain, has successfully inked a $15 million investment deal with MBK Holding.MBK Holding, an investment holding company with its main office in Qatar and a subsidiary in the United Kingdom, focuses on investing in technology startups. The Founder and Chairman, H.E. Sheikh Mansoor Bin Khalifa Al-Thani, member of the Qatari ruling family, formerly served for a decade as the director of information technology for The Council of The Qatar Ruling Family Affairs, as per Newsfile Corp.H.E. Sheikh Mansoor Bin Khalifa Al-Thani, Founder and Chairman of MBK Holding, Jevgenia Kim, CEO of QANplatform, and Johann Polecsak, Co-Founder and CTO of QANplatform made the announcement at the Qatar Science & Technology Park (QSTP), Qatar's premier hub for applied research, technology innovation, incubation, and entrepreneurship.Aside from the $15 million technology-focused investment commitment, MBK Holding provides growth services to assist QANplatform's worldwide market access and expansion. MBK Holding's focus includes several regional markets such as Qatar, Saudi Arabia, the United Arab Emirates, Turkey, and the United Kingdom, as well as additional worldwide prospects. A Layer 1 blockchain platform, such as Ethereum or QANplatform, serves as the foundation for all blockchain projects and applications. It is analogous to a computer's operating system. It is the essential foundation upon which the ecosystem may construct an infinite number of solutions. QANplatform will be the first EVM-compatible, quantum-resistant Layer 1 hybrid blockchain platform on which developers may create smart contract, DApp, DeFi, DAO, token, NFT, Metaverse, CBDC, tokenized asset, and strong Web3 solutions in any programming language on top of the QAN blockchain platform.. AT&T has chosen Ericsson to build its communications network using ORAN, a new cost-saving technology covering 70 percent of US wireless traffic, by the end of 2026. In the fifth year, $14 billion will increase Ericsson's stake. The company, one of the largest mobile phone companies in the world, weakened Nokia's presence in the North American market.Ericsson shares rose 9 percent and outperformed the pan-European STOXX 600 for its best day in years. Nokia shares fell 8 percent to the bottom of the index early Tuesday after AT&T announced late on December 4.The Open Radio Access Network (ORAN) promises significant cost savings for telecom operators using cloud-based systems and tools from multiple vendors. While telecom providers like Telefonica and Vodafone have tested the technology, mass adoption has been slow. New networks by Dish and Japan's Rakuten use Open RAN. AT&T has been analyzing Open RAN for six months with a team of hundreds, an executive said and has looked at multiple vendors and sought proposals."All of the new equipment that we will be putting out will be Open RAN capable," Chris Sambar, executive vice president of Network at AT&T, told Reuters.The company said AT&T's spending could approach $14 billion over the five-year contract term with Ericsson. The company said that winning the Open RAN deal will make Ericsson the largest supplier to AT&T as it slowly takes over Nokia's share. AT&T & ERICSSON TO JOINTLY BUILT COST EFFECTIVE TELECOM NETWORK
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