The Qatar Financial Centre has launched a proof of concept through its Digital Assets Lab to test a blockchain-based Digital Receipt System intended to support transparency, efficiency, and regulatory compliance in Shariah-compliant asset-backed finance. The initiative is being delivered by a consortium including AlRayan Bank, Blade Labs, and Hashgraph, with the system operating on HashSphere, a private permissioned distributed ledger technology network built with Hedera technology and deployed on Google Cloud infrastructure provisioned through the Lab. QFC is acting as the orchestrator, providing infrastructure support and subject matter expertise; Hashgraph will deliver and operate the underlying blockchain infrastructure; Blade Labs is developing the Digital Receipt System, including smart contracts and user interfaces; and AlRayan Bank will validate functionality and explore commercialisation pathways.
Qatar Financial Centre 2025-09-08
Qatar Financial Centre launches Digital Assets Lab blockchain proof of concept for a Shariah-compliant digital receipt system
The Qatar Financial Centre's Digital Assets Lab is testing a blockchain-based Digital Receipt System for Shariah-compliant asset-backed finance. The project involves AlRayan Bank, Blade Labs, and Hashgraph, using HashSphere on Hedera technology and Google Cloud. QFC leads the initiative, with Hashgraph providing blockchain infrastructure, Blade Labs developing the system, and AlRayan Bank validating functionality.