Henk Jan Hoogendoorn has confirmed that Qatar Genesis Technologies, a Qatar University tech spinoff is working with Qatar Financial Center Authority on possible use cases in their digital assets labs.

Lebanese-Canadian national Mazen El Masri, Co-Founder and CEO of Genesis Technologies, the tech company which developed Maxya, is working with QFC digital assets labs on several blockchain use cases.

As per the post the possible use case could include tokenization, security tokes and fractional ownership.

On Sunday October 29th, Qatar announced one of the biggest digital assets initiatives in the country and the GCC region, the Qatar Innovation Dome for digital assets. As per the live event keynotes, the digital assets lab will develop tokenization platforms and ecosystems for everything that has value whether tangible assets or intangible assets including real estate assets, securities, Sukuk, bonds and others in the future utilizing DLT ( distributed ledger technologies), blockchain, and smart contracts.

Qatar Financial Centre Authority (QFCA) signed MOUs with Blockchain solution provider R3 and Blockchain SettleMint platform. The agreement with Settlemint will also as with R3 work on Blockchain and digital asset initiatives in the financial sector in the digital assets lab.

The Lebanese Ministry of Economy and Trade has signed an MOU (Memorandum of Understanding) with DigiWeb LLC, a technology and Web3 company Choueh Law Firm, and the Lebanese Association for Digital transformation to introduce Blockchain training courses, develop Blockchain use cases and launch the upcoming Blockchain conference, “Blockchaining Lebanon Conference”

This MOU establishes collaboration between DigiWeb LLC, its partners, including the Lebanese Association for Digital Transformation (LADT) and   Choueh Law Firm, and the Ministry of Economy to support the Ministry’s digital transformation process.

The primary objective of the MOU is to provide training on Blockchain, and AI from various perspectives and organize a nationwide conference in collaboration with the Ministry of Economy, with the honorable presence of Minister Amin Salam.

Lebanese Minister of Economy and Trade, H.E. Mr. Amin Salam, commented, “This MOU is an important step towards the digitization efforts of the Lebanese government. We seek to advance Lebanon’s digital future utilizing Blockchain technology. One of the vital steps towards this is the education of our employees on technologies such as Blockchain, AI, and others. The culmination of our efforts will be with the use cases and the Blockchaining Lebanon Conference.”

Fady Al Sayah, Founder & CEO of Digi Web LLC stated, “We are proud to be supporting the Lebanese Ministry of Economy and trade with their digital transformation process encompassing technologies such as AI and Blockchain. We look forward to working on Blockchain and AI use cases that benefit Lebanese citizens and streamline government services in a transparent and trustworthy manner.”

Mrs. Randa Al-Rifai, Head of Lebanese Association for Digital Transformation (LADT) added, “By training government employees on the concepts of Blockchain, and artificial intelligence we are not only up skilling the skill sets of these employees but preparing them for Web3 digitization services.” 

In terms of the event, Choueh Law Firm, represented by lawyer Mr. Charbel Choueh noted, “The conference will set Lebanon on the course to embrace the latest internet technologies, fostering innovation and progress as well as open doors to fresh investment opportunities within the burgeoning Third Generation Internet sector.”

Technologies such as Blockchain, AI, will encourage Lebanese youth and enterprises to transition into the Third Generation of the Internet, ensuring they remain at the forefront of technological advancement.