Towards Knowledge-Based Economy: Assessing the Ecosystem and Value Creation Drivers Through Cybersecurity, Intangible Assets and Blockchain Technology in Qatar
Creators: name: Al-Qahtani, Abdulrahman Saad Saeed A.
Publisher: name: Manara - Qatar Research Repository
Year: 2024
Subjects: classificationCode: 50
subject: Philosophy and religious studies

description: The shift towards a knowledge-based economy is becoming increasingly important for countries worldwide, as it is seen as a critical driver of long-term economic growth, competitiveness, and sustainability. Qatar is no exception and actively pursues policies and initiatives to transition towards a knowledge-based economy. This dissertation aims to assess the existing ecosystem in Qatar and identify key drivers of value creation that can support the shift toward a knowledge-based economy. Specifically, the dissertation focuses on three areas that are particularly relevant in this context: cybersecurity, intangible assets, and blockchain technology. Cybersecurity is becoming increasingly important in the digital age as companies and individuals face growing threats and attacks. In Qatar, the government has recognized the importance of cybersecurity and has developed several initiatives and policies to enhance the country's cybersecurity capabilities. These include establishing the Qatar Computer Emergency Response Team (Q-CERT), creating the Qatar National Cybersecurity Strategy, and developing a cybersecurity ecosystem providing training programs, research institutions, and industry partnerships. Intangible assets, such as intellectual property, brands, and know-how, are becoming increasingly important in the knowledge-based economy, as they can generate significant value and competitive advantage.Qatar has recognized the importance of intangible assets and has taken steps to strengthen its intellectual property regime, improve its innovation ecosystem, and promote entrepreneurship and start-ups. Blockchain technology is another crucial driver of value creation in the knowledge-based economy. Blockchain can transform various industries, from finance and logistics to healthcare and energy. Qatar has recognized the potential of blockchain and has launched several initiatives to explore its use cases and promote its adoption. These include the establishment of the Qatar Financial Centre's FinTech Sandbox, the creation of the Qatar Blockchain Center, and the launching of the Qatar Digital Currency. Overall, this dissertation highlights the potential of a knowledge-based economy in Qatar and identifies key drivers of value creation that can support this transition. The research revealed that the Knowledge-based economy in the country is not constrained. Despite Qatar's relatively high scores in various dimensions of NIE, such as institution, governance, market, and culture, there are still obstacles to developing a robust KBE. The study also highlighted that Qatar's cybersecurity readiness is still in progress and lags countries like the UK, Estonia, and Singapore. Nevertheless, Qatar has taken significant steps to enhance its cybersecurity infrastructure, including establishing the National Cyber Security Committee and implementing new cybersecurity laws. Furthermore, the study identified blockchain technology as a potential solution to address the challenges of IA reporting in Islamic finance. Blockchain can enhance transparency in reporting and tracking IA value drivers, thereby improving the accuracy and accessibility of IA data. This, in turn, can enhance the value-creation process and provide investors with a more precise understanding of the potential benefits of IA. Qatar has recognized the potential of blockchain technology and has been trying to leverage it in addressing the challenges in IA reporting in Islamic finance. The paper concludes by providing recommendations for policymakers, entrepreneurs, and investors on leveraging these drivers of value creation to accelerate the growth of a knowledge-based economy in Qatar. These recommendations include the need to prioritize cybersecurity, promote the development of intangible assets, and support the adoption of blockchain technology, as well as the importance of investing in education and training, fostering innovation and entrepreneurship, and strengthening the country's regulatory and legal frameworks.