The co-founder of the Gulf Blockchain Foundation does not see a strong future for Crypto in Qatar


The co-founder of the Gulf Blockchain Foundation said that Qatar's supply chains can benefit from the use of the blockchain, but currently does not see a strong future for crypts in the region.

Blockchain Use Cases in Qatar

Nick Gorman, co-founder of the Gulf Blockchain Foundation, made his comments during a seminar yesterday. In a Gulf Times report, Gorman said:

"I do not think there is a strong future for cryptocurrencies here now, given the Qatari Central Bank issued this year. really good use for blockchain in other areas. "

In addition to banking and finance, these also include oil, gas and facility management, he said. As one of the safest technologies, Gorman noted that the distributed ledger has a pull factor in areas such as IT security, property management and personal identity management.

According to Gorman, however, the best-use case technology in Qatar can be seen within the strategic asset management. He added:

"He manages things like hospitals, schools and making sure that roads and bridges are maintained – these types of activities could be recorded in a blockchain."

Another good example is the system of permits residing in Qatar. He says that if someone comes into the country and commits a crime, which is then recorded in the ledger, it can not be canceled.

Earlier this week, a report found that the technology could be used to improve global supply chains extraction. He went on to say that it would be a question of not if, but when the industry will adopt it to increase transparency and remove inefficiencies.

In particular, according to the CEO and co-founder of the digital billing company Tradeshift, the blockchain is not mature enough to support global supply chains.

In a report, Christian Lanng said that while the technology was great to demonstrate the authenticity of the products, in addition to their point of origin, it was "not a high-performance technology" However, while agencies like the The United Kingdom's Food Standards Agency (FSA) are looking for ways to introduce technology to improve food security, some estimate that the blockchain will not see widespread adoption for another 10 years.

  Close-up image of Shutterstock. 
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