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A blockchain experiment succeeds in Myanmar

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

TOKYO A low-cost, highly reliable database technology for recording financial transactions may soon become more widely adopted, after a Japanese company demonstrated its use in an experiment in Myanmar.

Infoteria, a Tokyo-based software developer, said in June it successfully applied a blockchain system to microfinance services in the Southeast Asian country. The experiment was conducted on the computer system of BC Finance, Myanmar's biggest microfinance company, which is based in Yangon.

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