The Communications Regulatory Authority (CRA) launched a public consultation about the “National Blockchain Blueprint for Qatar”, which was collaboratively developed by CRA, Hamad Bin Khalifa University, and Qatar University, with the aim of receiving the views and comments of stakeholders and concerned parties in Qatar on the content of the drafted document.
The blueprint establishes the frame for blockchain at the national level and identifies its key elements; regulatory foundation, adoption foundation, and innovation and creativity. It also identifies key blockchain requirements, and provides a set of recommendations towards achieving the desired objectives; identifying and building an efficient regulatory foundation for blockchain, creating a solid foundation for the government’s approach in this field, and creating and enabling a supportive environment for creativity and innovation. The blueprint underlines the potential of the blockchain technology and the opportunities that it can offer to Qatar.
The blueprint examines the most prominent opportunities that blockchain could bring to various governmental and business sectors. It also outlines the necessities and incentives that must be provided by each sector for the technology adoption that contribute to emerging startups, pilot projects and new companies. Blockchain enables capitalizing on available resources and interconnecting governmental and private entities for efficient, secure, and fast data exchange in different sectors. It can play a key role in shaping the future of many businesses in Qatar with efficient, secure, and cost-effective transactions. Thus, contribute to supporting the sustainable development in the country.
“The National Blockchain Blueprint highlights how blockchain technology can contribute to building an innovative and growing IT sector that contributes to increasing domestic and foreign investment, which supports Qatar National Vision 2030 and Qatar National Development Strategy”, said Ali Al-Suwaidi, Technical Affairs Department Director, CRA.
“The CRA was keen to develop this blueprint in line with the importance of developing a solid regulatory framework for enabling the investment environment and creating a strong industry and adoption of emerging technology. The regulation is important to protect users and provide the adequate legal framework that allows blockchain innovation and adoption. I would like to thank Hamad Bin Khalifa University and Qatar University for all their efforts and cooperation in developing this blueprint and we look forward to our further collaboration in the future”, he added.