Blockchain
Qatar’s lately launched “Nationwide Blockchain Blueprint” has steered that the expertise, mixed with a “stable regulatory framework,” might help the nation construct an revolutionary data expertise (IT) sector. Nevertheless, for this to occur, Qatar should implement suggestions specified by the blueprint.
Qatar Mentioned to Be Effectively Positioned to Change into Blockchain Hub
A blueprint collectively drafted by Qatar’s Communications Regulatory Authority (CRA) and two studying establishments, Hamad Bin Khalifa College and Qatar College, seeks to highlight how blockchain “can contribute to constructing an revolutionary and rising IT sector” within the nation. Citing Qatar’s small inhabitants and measurement, the doc argues the nation is properly positioned to develop into one of many main international locations in fostering blockchain improvements.
Nevertheless, earlier than attaining its standing as one of many largest blockchain hubs globally, Qatar nonetheless must create an enabling atmosphere for the expertise to flourish. One of many methods of doing this, based on the 23-page doc’s abstract, is by growing a “stable regulatory framework.” Along with serving to herald buyers, such a regulatory framework is claimed to be wanted by each customers and innovators.
“Regulation is just not solely necessary to guard customers and guarantee safety, but additionally to supply the sufficient authorized framework that permits blockchain innovation and adoption. This may be achieved by figuring out the totally different domains of blockchain-based companies, their related regulatory necessities and applicable regulatory method to serve every area,” the Nationwide Blockchain Blueprint for Qatar acknowledged.
The blueprint additionally spells out the circumstances plus incentives that must be “offered by every sector for the expertise adoption that may enable startups, pilot initiatives and new corporations to emerge.”
Bolstering Qatar’s Competitiveness With Blockchain
In its conclusion, the doc says if all suggestions therein are applied, this could contribute to “human capital improvement by jobs creation and expertise improvement.” Implementation of the blueprint’s suggestions can probably stimulate development and improve Qatar’s competitiveness.
In the meantime, the nation’s Communications Regulatory Authority has stated stakeholders and members of the general public taken with reviewing the blockchain blueprint should submit their suggestions through e-mail earlier than September 15.
