Logo of Phnom Penh Post newspaper Phnom Penh Post - Blockchain event fails to deliver on title

Blockchain event fails to deliver on title

Blockchain-based technology can be used for reducing costs associated with interbank lending, in addition to facilitating digital assets and cryptocurrencies. Photo supplied
Blockchain-based technology can be used for reducing costs associated with interbank lending, in addition to facilitating digital assets and cryptocurrencies. Photo supplied

Blockchain event fails to deliver on title

The Asean Blockchain Summit, notably lacking participation from citizens of Asean, was held yesterday at the Sokha Hotel in Phnom Penh, where hundreds of Chinese attendees gathered to hear speeches on cryptocurrencies and blockchain technology delivered in Mandarin.

News of the summit reached the international media this past week after a press release from Entapay, the firm hosting the event, hinted that Cambodia would soon be launching a national cryptocurrency.

Though Entapay did launch a cryptocurrency at the summit, officials from the National Bank of Cambodia and the Securities and Exchange Commission of Cambodia told The Post earlier this week that the government had not lent its support to any digital currency.

Deputy Prime Minister Men Sam An, who delivered the keynote at the summit and was the only Cambodian speaker at the event, spoke for approximately five minutes before exiting the conference hall.

Every speaker following Sam An presented in Mandarin, and no Khmer or English translations were available.

The Post spoke to six attendees at the summit, all of whom were from China and said they had been invited to the summit by friends via social media applications. None of the attendees said they had an interest in blockchain or cryptocurrencies, nor did they know any details about Entapay.

MOST VIEWED

  • Without shoes or a helmet, a young cyclist steals the show

    Pech Theara gripped the curved handlebars of his rusty old bike, planted his bare feet on its pedals and stormed as fast as he could towards the finish line. The odds were against him as the 13-year-old faced off against kids with nicer bikes at

  • Phnom Penh-Sihanoukville expressway on schedule

    The construction of the more than $1.9 billion Phnom Penh-Sihanoukville Expressway has not been delayed despite the Covid-19 pandemic, with more than 26 per cent of the project completed and expected to finish in about two years, according to Ministry of Public Works and Transport secretary of

  • Singapore group seeks $14M in damages from PPSP over ‘breach of contract’

    Singapore-based Asiatic Group (Holdings) Ltd is seeking a minimum of $14.4 million relief from Cambodia Securities Exchange (CSX)-listed Phnom Penh Special Economic Zone Plc (PPSP) for allegedly breaching a power plant joint venture (JV) agreement. Asiatic Group’s wholly-owned Colben System Pte Ltd and 95 per

  • Over 110 garment factories close

    A government official said on November 22 that at least 110 garment factories had closed in the first nine months of the year and left more than 55,000 workers without jobs – but union leaders worry those numbers could be much higher. Ministry of Labour and Vocational Training undersecretary

  • PM dispels lockdown rumours, gifts masks

    Prime Minister Hun Sen on November 12 denied rumours that he will lock down the country in response to increased Covid-19 fears, referring to them as propaganda aimed at destabilising the country. In a Facebook post, he said some people had spread rumours that the government

  • SilkAir adds flight to Phnom Penh schedule

    Silkair (Singapore) Pte Ltd is increasing its flight frequency between Phnom Penh and Singapore with a third weekly flight on Saturdays, according to Cambodia Airports’ Facebook page. The other flights offered are on Tuesdays and Sundays, with an estimated Phnom Penh arrival time at 5:35pm