Blockchain technology has attracted the attention of central bankers worldwide. In July 2019, with the help of technology firm Soramitsu, the National Bank of Cambodia (NBC) launched a new private-permissioned blockchain payment system called ‘Bakong’.
Since going live with a soft launch, the system has acquired 10,000 active end-users from 15 commercial banks. The system processes payments in digitised versions of both US dollar and Cambodian riel. “The central bank originally wanted to build a system that was more inclusive to the large unbanked and underbanked population, while simultaneously having better insight and monetary controls over the usage of USD,” says chief executive Makoto Takemiya.
Read more: https://www.centralbanking.com/awards/7681581/central-bank-digital-currency-partner-soramitsu
