At the start of the year, Cambodia made headlines when the central bank announced it would be launching a national blockchain-based digital currency in the first quarter of 2020.
Called “Bakong,” a month into the third quarter the currency hasn’t yet become fully operational.
Speaking to reporters on July 27, the director-general of the National Bank of Cambodia, Chea Serey, indicated that the Bakong had been launched this month on a trial basis and is now expected to be operational this quarter — presumably, then, before Q3 ends on September 30.
The project already has the support of 11 domestic banks. Serey explained:
“Bakong will play a central role in bringing all players in the payment space in Cambodia under the same platform, making it easy for end-users to pay each other regardless of the institutions they bank with. Eventually, we hope to allow cross border payment through the Bakong system too.”
Continue read: https://cointelegraph.com/news/cambodians-still-waiting-on-central-bank-digital-currency