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The Qatar-based telecommunications giant, Ooredoo Group, launched an initiative on March 18, based on a chain of blocks, an English-language local media outlet, The Peninsular Qatar.
According to the report, the company is already collaborating with private, public and academic entities to develop blockchain solutions. Ooredoo Group CEO Sheikh Saud bin Nbader Al Thani said in this article: "The blockchain will facilitate the creation of new business models and digital revenues in the next five years".
According to him, the blockchain allows companies to optimize costs and increase efficiency, transparency and trust while allowing secure digital payments. The author of the article cites the use of smart contracts for securities, securities and facilities management, product tracking and cross-border banking regulations as potential applications.
Finally, the company would aim to combine blockchain with its 5G infrastructure, cloud and Internet of Things, but the article does not specify how. CrunchBase data reveals that the Ooredoo Group, one of the largest telecommunications companies in the world, has annual revenues of $ 8.2 billion.
As mentioned by Cointelegraph in February, Spain's largest multinational telecommunications company, Telefonica, has partnered with Microsoft to develop its digital innovation using both blockchain and artificial intelligence.
Ping An, tenth global company and Chinese insurance giant, Ping An, has recently been badociated with the start-up SingularityNET, a decentralized artificial intelligence company based on Ethereum (ETH).
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