Laos Cooperated With Japanese Startup Electronic Money Research

Laos will study the ability to release its own electronic money with the help of a financial technology startup (FINTECH) participating in similar research in Cambodia. Lao Central Bank recently signed a memorandum of understanding With Japan International Cooperation Agency (JICA) on electronic money development research issued by central bank. Lao government has chosen soramitsu - one of the many Startups Blockchain technology applications - to participate in research this. Soramitsu has previously supported Cambodia to develop Bakong electronic payment system, an attempt to slightly reduce the dependence of this country into the dollar. An electronic version of Dong CA will help policy makers Easier data collection to monitor the indicators of the economy, such as the amount of money circulating

.Soramitsu will evaluate the role of banks and intermediaries, demands covering finance of Laos and many other aspects. Research can start right in this October. If Laos decides to issue electronic money, Soramitsu can participate in developing this kind of money
Electronic proceedings mark Laos want to expand the range of use of Laos Copper when digital yuan There is a strong potential to influence in Southeast Asian countries with strict economic relations with China. In Cambodia, Bakong app has exceeded 200,000 downloads since its launch in October 2020 and possibly Used at about 2,000 stores. Soramitsu and other Fintech companies are targeting the expansion of the use of this e-payment platform. In another part of Asia, in September recently Bhutan also said it is cooperating with Blockchain Company American Ripple in an electronic money testing project. These dynamics are taking place in the context of China preparing to release the electronic version of the yuan as soon as the next year. Although e-ellorners are only influential in the Chinese territory in the early stages, the Chinese government is expected to expand the international range sooner or later. The Chinese People's Bank has announced that it will consider payment tested by cross-border e-border yuan. The dollar is the predicted currency despite formal or informal in many market economies Emerging in Asia. However, since the 2008-2009 global financial crisis, Asian countries with high trade turnover with China are more concerned with the stability of the local currency when compared to the yuan. Electronic money issued by the central bank is considered by some people who are a way to reduce the cash flow over the market
Tung Phong (according to Nikkei Asia) Nguyen Le Tung Phong

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