“The application of the blockchain is being explored, especially in payment, clearing and settlement activities because of potential efficiency gains arising from the technology, as in the case of cross-border payments.“
Fintech
Fintech is recognised as a primary tool in Qatar. Qatar has created the Fintech Hub.
The Governor in 2019 underlined the importance of a digital strategy.
Qatar has a Digital Government Strategy. This supports online payments.
In 2020, Cointelegraph reported that the QCB had no plans to implement a CBDC but understood the benefits of digital payments.
Qatar has a high GDP and a clear strategy to digitalize. When CBDCs are issued, it is likely that Qatar will adapt easily.
The Riyal is pegged to the USD.
