Cambodia May Issue A National Cryptocurrency

Following last month’s launch of the Venezuelan government-backed Petro coin, Cambodia is considering launching its own crypto project named Entapay, a press release for the Association of Southeast Asian Nations (ASEAN) Blockchain Summit reported March 2. The Blockchain Summit, which will be held in Phnom Penh on March 7, describes Entapay as a project based on the “quantum entanglement” of security and encryption, writing that it will use Blockchain technologies to create a fast and secure user experience. The press release compares the Entapay project directly with Venezuela’s Petro, which they classify as a digital currency that “assist[s] the country in avoiding the Western world’s economic sanctions – while providing a new channel of economic development for a country suffering from severe inflation.” A similar currency in Cambodia, the press release notes, could help the country take advantage of the Blockchain revolution.


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