CBDC can boost de-dollarisation and inclusion – Cambodia

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

Cambodia’s central bank says Bakong, its blockchain-based payment and money transfer platform, will help promote the use of local currency over the US dollar.

“Cambodia is still considered as a highly dollarised economy while most of the transactions are still cash-based. This could hinder the effective implementation of monetary policy as well as payment system development,” the National Bank of Cambodia (NBC) says in a white paper published on June 17. “Thus, the NBC has developed the Bakong

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