Local Media: Qatar Telecommunications Giant Ooredoo Launches Blockchain Initiative

Qatar-based telecommunications giant Ooredoo Group has reportedly launched a blockchain initiative.

Qatar-based telecommunications giant Ooredoo Group has launched a blockchain initiative, English-language local media The Peninsular Qatar reports on March 18.

Per the report, the company already collaborates with entities in the private, public and academic spaces to develop blockchain solutions. Ooredoo Group CEO Sheikh Saud bin Nasser Al Thani is quoted in the article as stating that “blockchain will facilitate new digital business models and revenue in the next five years.”

According to him, blockchain enables organizations to optimize costs and enhance efficiency, transparency and trust while allowing secure digital payments. The article’s author cites the use of smart contracts for title, deed and facilities management, product tracking and bank cross-border settlements as possible…

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2019-03-18 18:27:00

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Written by Cointelegraph

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