Qatari National Blockchain Blueprint Spotlights Benefits of the Technology to Country’s Economy

Qatari National Blockchain Blueprint Spotlights Benefits of the Technology to Country’s Economy

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by Terence Zimwara
Qatar’s just lately launched “Nationwide Blockchain Blueprint” has advised that the know-how, mixed with a “strong regulatory framework,” may help the nation construct an progressive info know-how (IT) sector. Nevertheless, for this to occur, Qatar should implement suggestions specified by the blueprint.
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 progressive and rising IT sector” within the nation. Citing Qatar’s small inhabitants and dimension, the doc argues the nation is properly positioned to turn out to be one of many main nations in fostering blockchain improvements.
Nevertheless, earlier than attaining its standing as one of many largest blockchain hubs globally, Qatar nonetheless must create an enabling setting for the know-how to flourish. One of many methods of doing this, in response to the 23-page doc’s abstract, is by creating a “strong regulatory framework.” Along with serving to usher in buyers, such a regulatory framework is claimed to be wanted by each shoppers and innovators.
“Regulation shouldn’t be solely vital to guard customers and guarantee safety, but additionally to supply the enough authorized framework that enables blockchain innovation and adoption. This may be achieved by figuring out the totally different domains of blockchain-based providers, their related regulatory necessities and applicable regulatory method to serve every area,” the Nationwide Blockchain Blueprint for Qatar said.
The blueprint additionally spells out the situations plus incentives that must be “supplied by every sector for the know-how adoption that may enable startups, pilot tasks and new firms to emerge.”

Bolstering Qatar’s Competitiveness With Blockchain

In its conclusion, the doc says if all suggestions therein are carried out, this may contribute to “human capital growth via jobs creation and expertise growth.” 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 curious about reviewing the blockchain blueprint should submit their suggestions through electronic mail earlier than September 15.
What are your ideas on this story? Tell us what you assume within the feedback part beneath.
Terence Zimwara is a Zimbabwe award-winning journalist, writer and author. He has written extensively in regards to the financial troubles of some African nations in addition to how digital currencies can present Africans with an escape route.

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