Cryptocurrency #11: After Venezuela, Cambodia plans to issue national currency

Cambodia said that the early development of the currency would make the country take advantage of the Blockchain revolution.
At the Blockchain Southeast Asia Summit held in Phnom Penh on March 2, Cambodia looked at developing their numbers. This decision was inspired by the Venezuelan release of the Petro copper in February. The first Cambodian currency is due to be named Entapay.

"Entapay is a combination of digital technology integration with traditional payment methods. It promises to replace Visa as a new official payment method," the press release said. .

The Venezuelan Petrocentre was launched in February to tackle the country's inflation.

A press release on the direct comparison between Cambodia's Entapay project and Venezuela's Petro. "The national currency will help the country escape economic sanctions from Western countries and provide a new channel of economic development for countries that are suffering from severe inflation." . Entapay will help Cambodia take advantage of the Blockchain revolution. In addition, the press release mentions that ASEAN's first Blockchain technology research institute will also be built soon.

This is not the first time Cambodians have been interested in the numbers, last summer the Cambodian central bank cooperated with Blockchain of Japan to test the decentralization technology for payment services.

By the end of February 2018, the Republic of Marshall Islands, an equatorial island nation announced that it would issue its own sovereign debt. This is a move to end the reliance on the dollar, the official currency of Marshall after independence in 1986.