Twenty-four participants kickstart innovation journey at QFC Digital Assets Lab

Doha, Qatar: Qatar Financial Centre (QFC) has activated the QFC Digital Assets Lab with twenty four participants who have successfully cleared a metic...

Doha, Qatar: Qatar Financial Centre (QFC) has activated the QFC Digital Assets Lab with twenty-four participants who have successfully cleared a meticulous screening process. This cohort will benefit from a comprehensive support system for developing, testing and commercialising their digital solutions and services.

The participants will develop transformative solutions tailored to a variety of use cases across different industries. By leveraging distributed ledger technology, these innovators seek to address industry challenges and drive digital transformation in their respective sectors. Among the 24 successful candidates are ALT Realtech, Bladelabs, Polygon, and Partior.

To bolster the capabilities of the Digital Assets Lab, QFC has partnered with leading international organisations such as Google Cloud, Masraf Al Rayan, The Hashgraph Association, and R3. These strategic partners will offer subject matter expertise, providing participants with valuable knowledge and industry insights.

The Digital Assets Lab supports the stakeholders in exploring and experimenting with various use cases, such as trade finance, real-world asset tokenisation, carbon credit tokenisation and various ancillary services to support the end-to-end tokenisation. To facilitate these processes, the Lab and its participants will operate under the newly launched QFC Digital Assets Framework, established to ensure a secure and transparent digital asset ecosystem for asset tokenisation processes and the implementation of a trusted technology infrastructure.

Yousuf Mohamed Al Jaida, Chief Executive Officer, QFC, commented on the diversity of the first cohort, stating: "I am delighted that the Digital Assets Lab has officially commenced, with 24 participants working on technologies with different applications. Their collective effort 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 resilient and secure financial sector, fostering a thriving wealth management hub, and positioning Qatar at the forefront of innovation."