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Qatar Central Bank Plans to Explore Blockchain Technology


Qatar Central Bank is working on launching the second strategic plan about the Fintech initiatives.
This plan will involve establishing clear policies that will aim to support venture capital funding.
This also targets the development of SMEs.

With the world moving towards total digitalization, Qatar doesn’t want to be left behind. Qatar Central Bank is working on launching the second strategic plan for Blockchain initiatives . 
Henceforth, This plan will involve establishing clear policies that will aim to support venture capital funding. This also targets the development of SMEs. 
Financial Services and More :
Qatar Development Bank is a local bank that provides banking services, loans, and other financial services to some of the major industries. It recently launched various innovative programs that offer finance to SMEs.
Therefore, it aims to improve basic services such as credit access. And helping SMEs taking part in the country’s evolving economy.
Blockchain service in Qatar Central Bank:
QCB’s plans on adopting blockchain and other distributed ledger technology (DLT). The QCB wants to include such technologically advanced strategies. Henceforth, customers can easily take part in all the different Fintech products. 
Blockchain is not an easy business. Hence QCB has involved many global initiatives to help them adopt this approach. 
The bank wishes to develop the approach which involves sensitive review. And also outlooks all the harmful impacts and risks for the company and its customers.
This emerging technology like distributed ledger technology will dominate the financial sector in the coming future. The tools for the framework have been designed in such a way that it can identify, oversee, and regulate any new entrant into the finance world. 
Blockchain will allow streamlining payments, minimum risk management, and easy back-office operations. The record management along with the transaction report will increase in efficiency as well. 
Bank’s review
The QCB is very much focused on DLT use cases, Thus looking forward to expanding their business using this technology. 
According to the governor at QCB, Sheikh Abdulla bin Saoud al-Thani. The remarkable journey of digitalization will begin from using secured networks such as Blockchain technology.  
The post Qatar Central Bank Plans to Explore Blockchain Technology appeared first on The Coin Republic: Cryptocurrency , Bitcoin, Ethereum & Blockchain News .

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