Qatar’s leading telecommunications operator has announced it is to sponsor the connectivity of a new FinTech Lab at Qatar University’s College of Business and Economics.

Ooredoo will be providing an independent 5G connection to the Lab, so faculty can test heavyweight blockchain financial transactions as they conduct research into blockchain technology and prepare students for the next generation of 5G and FinTech.

This 5G connection will be used primarily to test the performance of such transactions, which need to be tested on a 5G network for research purposes.

The new Lab will be equipped with extremely powerful, high-performing computers which will offer ample opportunity to test the capability of the 5G network.

Sabah Rabiah Al-Kuwari, Director PR at Ooredoo, said of the sponsorship: “We’re immensely proud to be working with Qatar University on such a worthwhile initiative. As part of our corporate social responsibility strategy, we’re committed to supporting research and education, and the development of FinTech is very relevant to our progress towards achieving the goals set out by Qatar National Vision 2030. We’re extremely excited about this opportunity to see just what our 5G network can do in the FinTech field, and excited to see yet more of what the 5G future holds.”

Commenting on this sponsorship, Professor Mazen El-Masri, Director of Qatar University Fintech Innovation Hub, said: “We thank Ooredoo for their continuous efforts to support research and education. Powering our Lab and technological resources with 5G connectivity enables us to open up our lab to a wider range of innovators across the country”.