Key players in Qatar and the Hashgraph Association have joined forces to look into five possible uses for digital assets over the next twelve months.
According to a statement from the Hashgraph Association, this partnership will mainly work on tokenizing assets like real estate, Sukuk, and equity. It will also work on sustainability projects like carbon credits and customer engagement programs.
Sukuk is an Islamic financial instrument that is like a bond. It is in line with Sharia law because it gives returns through asset ownership instead of interest.
Qatar’s Digital Asset Expansion
The Hashgraph Association, a non-profit group that supports the Hedera platform, said that the goal of the relationship with the Qatar Financial Center is to make Qatar a global center for digital assets and Distributed Ledger Technology (DLT).
Qatar started regulating digital assets in a new way on September 2. The new rules cover tokenization, storage, and trade. The framework, which was made by the Qatar Financial Center Authority and Regulatory Authority, includes a lot of different groups and makes coins and smart contracts legal.
Tokenization is the process of turning real-world assets, like real estate or financial instruments, into digital tokens that can be used in blockchain to trade or control them.
The Hashgraph Association thinks that tokenizing these assets could make them more open, lower their costs, and make investing easier for more people.
The group will be in charge of projects next year that are all about equity, Sukuk, real estate, sustainability, and customer loyalty. These attempts are a major step toward making blockchain technology a normal part of business and finance in Qatar.
