The Doha digital currency project seeks to enhance banks’ access to capital markets, and improve local settlement and efficiency of securities transactions. The pilot phase will last until October 2024, using artificial intelligence technologies and decentralized ledgers.
Announce Qatar Central Bank Today, we are launching a project Digital currency The project will enter its first experimental phase extending to October 2024, where artificial intelligence technologies, decentralized ledger technology, and emerging technologies will be invested in.
This is after successfully completing the development of the necessary infrastructure for this project, which is considered a proactive step that keeps pace with the rapid global developments in the field of financial technology.
The bank confirmed in a statement it published Qatar News Agency After completing a comprehensive study of the field, he will now experiment and develop selected applications for digital currency, with the aim of settling high-value payments with a group of local and international banks in an experimental environment based on the latest advanced technologies.
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The project focuses on Qatar Central Bank digital currency applications, with the aim of increasing access to capital markets for banks operating in the country, enhancing local settlement, as well as improving the efficiency of securities transactions. The bank will currently experiment and develop selected digital currency applications, with the aim of settling high-value payments with a group of local and international banks, in an experimental environment designed according to the latest advanced technologies.
The project focuses on Qatar Central Bank digital currency applications, with the aim of increasing access to capital markets for banks operating in the country, enhancing local settlement, as well as improving the efficiency of securities transactions.
The project, which will enter its first pilot phase extending to October 2024, aims to invest in artificial intelligence technologies, decentralized ledger technology and emerging technologies, and create strong foundations to enhance liquidity and expand participation in financial market facilities.
This announcement, according to a statement issued by the bank, comes in line with the third strategy for the financial sector and the Qatar National Vision 2030, with the bank affirming its continued keenness to keep pace with digital transformations and develop the financial sector in the country.
