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Finance

Blockchain proves successful in Myanmar microfinance test

Infoteria CEO Yoichiro Hirano, right, watches the demonstration of blockchain technology at BC Finance, the biggest microfinance company in Myanmar.

TOKYO -- An experiment to create a low-cost and highly reliable blockchain infrastructure to record financial transactions is gathering steam in Myanmar.

Blockchain is a distributed database that maintains a continuously-growing list of data records that are difficult to tamper or revise. The technology serves as the public ledger of transactions using the virtual currency bitcoin.

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