Qatar’s National Blockchain Blueprint Highlights Economic Gains from Tech

According to the newly issued “National Blockchain Blueprint” of Qatar, the country might develop a cutting-edge information technology (IT) industry if paired with a “strong regulatory framework.” Qatar must, however, put the blueprint’s proposals into practice for this to happen. Qatar is Reportedly Well-Positioned to Become a Blockchain Hub Qatar University and Hamad Bin Khalifa University, along with the Communications Regulatory Authority (CRA) of Qatar, have collaborated to create a blueprint with an aim to highlight how blockchain can help develop an “innovative and rising IT industry” in the nation. The study makes the case that Qatar is ideally positioned to emerge as one of the top nations for developing blockchain developments by pointing to its modest population and size. Qatar still has to build an atmosphere supportive of the technology’s development before it can claim to be one of the largest blockchain centers internationally. The summary of the 23-page document states that creating a “strong regulatory framework” is one method of doing this. According to some, both users and inventors require such a legal structure, which also aids in attracting investment. The National Blockchain Blueprint for Qatar claimed that- “Regulation is not only important to protect users and ensure security, but also to provide the adequate legal framework that allows blockchain innovation and adoption. This can be achieved by ident...