TOKYO -- The National Bank of Cambodia will develop a blockchain-based payment system with help from a Japanese financial technology startup to offer people a secure, low-cost way of sending and receiving money.
The central bank, which doubles as the Southeast Asian country's financial regulator, has decided to work with Tokyo-based Soramitsu after examining multiple alternatives. This is thought to be the first time a foreign central bank has adopted blockchain technology developed by a Japanese company. Soramitsu's Iroha distributed ledger technology is affiliated with the Linux Foundation's Hyperledger project aiming to advance blockchain technologies for use across industries.
