Cambodia launches blockchain-powered payment system

The National Bank of Cambodia
The National Bank of Cambodia
Paxse / Wikimedia

Cambodia launched the pilot of a blockchain-powered payment system this week, as the South-east Asian country aims to reduce money transfer costs and improve financial inclusion.

The application, know as the Bakong Project, connects financial institutions and payment providers, enabling users to pay and make transactions in real time without fees, according to Cambodia’s central bank.

The pilot launch of Bakong makes Cambodia one of the first countries to use blockchain technology in its

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