Blockchain for rescuing Country from Sudden Isolution

The United Arab Emirates announced they had severed diplomatic and transport ties on Jun 5. This change will mean that Qatar no longer has full diplomatic relations with other states, including Egypt, Saudi Arabia, Bahrain and the United Arab Emirates.

The Financial Times quotes a Saudi news agency stating the government enacted the policy for the “protection of national security from the dangers of terrorism and extremism.”

Qatari sources reacted saying the collective move “was founded on allegations that have no basis in fact.”

While the government added it would “not affect the normal lives of citizens and residents,” Qatar’s isolation could provide a timely opportunity for disruptive innovation to take hold.

At the sametime, can Blockchain become Qatar’s rescue after four Middle Eastern countries cut ties with country over its alleged support of terrorism?

Qatar has been an active participant in Blockchain experimentation, specifically in its banking sector, with pilot schemes being successfully completed for money transfers in April.

“We have just started blockchain, a cutting-edge technology that will be used for remittances. We are the first bank in Qatar to actually pilot this approach,” Joseph Abraham, CEO of the Commercial Bank of Qatar.

Actually, if the government can appeals for the Blockchain support, combining the new advanced technology with different industries, then it can accelerate the development of society. In Hangzhou, Shuqin Tech has developed the first Blockchain product Baoquan.com for data attestation, and it also has achieved the recognization of judicial process. In addition, the CEO Gao Hang of Baoquan.com indicated that the next step is for the Blockchain value in data transferring process about government data. The trustworthy certificate service will play a great role in data transferring for government due to the decentralized system that based on Blockchain.

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