Qatar Financial Center (QFC) has launched the Digital Assets Lab, selecting 24 participants to develop innovative digital solutions using distributed ledger technology. Key partners include Google Cloud, Masraf Al Rayan, The Hashgraph Association and R3.
Lab participants will lead the digital transformation
In a move signaling Qatarâs support for digital assets, QFC, the regionâs leading domestic financial and business hub, announced the activation of its Digital Asset Lab on September 14. The lab boasts a carefully selected group of 24 participants who will receive comprehensive support to develop, test, and ultimately commercialize their innovative digital solutions and services.
Among the prominent participants are big names in the industry such as ALT Realtech, Bladelabs, Polygon, and Partior. These innovators are expected to leverage distributed ledger technology (DLT) to solve industry-specific challenges and lead digital transformation across various sectors.
To further enhance the labâs capabilities and provide participants with invaluable knowledge and industry insights, QFC has strategically partnered with a group of international organizations. These include Google Cloud, Masraf Al Rayan, The Hashgraph Association, and R3.
Commenting on the activation of the QFC Digital Asset Lab, Yousuf Mohamed Al-Jaida, CEO of QFC, said:
âI am delighted to have officially launched the Digital Asset Lab, with 24 participants working on technologies with various applications. Their collective efforts and expertise will be pivotal in advancing digital asset solutions across multiple industries. The technologies we aim to develop through the Lab will support our goal of creating a secure and sustainable financial sector, fostering a thriving wealth management hub, and placing Qatar at the forefront of innovation.â
The Digital Assets Lab, launching in October 2023, aims to support entities exploring use cases such as trade finance, tokenization of real-world assets, and tokenization of carbon credits. According to a statement, the lab and its participants will operate under the QFC Digital Asset Framework, which is designed to ensure a secure and transparent digital asset ecosystem.
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