Cambodia expected to follow Venezuela with plans for a national cryptocurrency

Pan Troglodytes

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Quote from: khufuking on March 06, 2018, 08:26:18 AM

I really do not understand why would any country want to make cryptocurrency !!! Someone give me any benefit from it for a whole country to do so !!! . Unless this country is serious about making a move and want to upload there own local currency on an blockchain Grin

( now that would be an interesting idea ! ) .
Other than that all I see is countries trying to pull out money from there locals .

which, probably, you are right that is the case, sadly. Even if it were an attempt to move their fiat to blockchain, what is it that countries and governments do best? Taking money at the expense of their people, this is what they do...

Ailmand

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Quote from: Pan Troglodytes on March 06, 2018, 08:20:06 AM

Quote from: alyssa85 on March 06, 2018, 07:13:28 AM

https://www.telegraph.co.uk/news/2018/03/06/cambodia-expected-follow-venezuela-plans-national-cryptocurrency/

Quote

Cambodia is considering the development of its own national cryptocurrency after being inspired by the launch of the Venezuelan Petro in February.

The Cambodian crypto project would be named Entapay, and is expected to be proposed at a blockchain summit of Southeast Asian nations in its capital, Phnom Penh, on Wednesday, which will be attended by the country’s deputy prime minister, Men Sam An.

A press release issued ahead of the summit described Entapay ambitiously as “the connection between integration payment of encrypted currency and the real world. It has the great potential to even replace Visa as the new mainstream payment mode.”

I have nothing against Cambodia, I love that country and its people, but they should make a serious attempt to have a real currency of their own first, before they even think of cryptocurrency. As things are in Cambodia nowadays, one is perfectly OK paying all one's needs with US dollars, they are semi-officially recognized means of payment there.

I think it needs to be regualted first, and then they can think of introducing a cryptocurrency.

I agree. Cambodia's currency, I think, is one with the lowest values compared to other currencies, especially those in Asia, if they want to improve their stance in the cryptocurrency market, I think that they should first tackle the problems they have with the national currency, and once they empower it, then it could be easier for them to incorporate another currency in their system that could interplay with their money, which could add value to whatever cryptocurrency they would introduce and maybe add value to their currency as well.

khufuking

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I really do not understand why would any country want to make cryptocurrency !!! Someone give me any benefit from it for a whole country to do so !!! . Unless this country is serious about making a move and want to upload there own local currency on an blockchain Grin

( now that would be an interesting idea ! ) .
Other than that all I see is countries trying to pull out money from there locals .

Pan Troglodytes

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Merit: 39

Quote from: alyssa85 on March 06, 2018, 07:13:28 AM

https://www.telegraph.co.uk/news/2018/03/06/cambodia-expected-follow-venezuela-plans-national-cryptocurrency/

Quote

Cambodia is considering the development of its own national cryptocurrency after being inspired by the launch of the Venezuelan Petro in February.

The Cambodian crypto project would be named Entapay, and is expected to be proposed at a blockchain summit of Southeast Asian nations in its capital, Phnom Penh, on Wednesday, which will be attended by the country’s deputy prime minister, Men Sam An.

A press release issued ahead of the summit described Entapay ambitiously as “the connection between integration payment of encrypted currency and the real world. It has the great potential to even replace Visa as the new mainstream payment mode.”

I have nothing against Cambodia, I love that country and its people, but they should make a serious attempt to have a real currency of their own first, before they even think of cryptocurrency. As things are in Cambodia nowadays, one is perfectly OK paying all one's needs with US dollars, they are semi-officially recognized means of payment there.

I think it needs to be regualted first, and then they can think of introducing a cryptocurrency.

alyssa85

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https://www.telegraph.co.uk/news/2018/03/06/cambodia-expected-follow-venezuela-plans-national-cryptocurrency/

Quote

Cambodia is considering the development of its own national cryptocurrency after being inspired by the launch of the Venezuelan Petro in February.

The Cambodian crypto project would be named Entapay, and is expected to be proposed at a blockchain summit of Southeast Asian nations in its capital, Phnom Penh, on Wednesday, which will be attended by the country’s deputy prime minister, Men Sam An.

A press release issued ahead of the summit described Entapay ambitiously as “the connection between integration payment of encrypted currency and the real world. It has the great potential to even replace Visa as the new mainstream payment mode.”

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