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

  • ‘Education’ a priority traffic-law penalty

    A top National Police official on June 21 neither rejected nor confirmed the authenticity of a leaked audio message, which has gone viral on social media, on a waiver of fines for a number of road traffic-related offences. General Him Yan, deputy National Police chief in

  • Pursat Ford assembly plant opens

    The Kingdom’s first Ford assembly plant was inaugurated on June 16 in Pursat province amid rising demand for brand-new vehicles among Cambodians. The facility is seen as a game changer for the domestic automobile industry, which could bring a wave of investors seeking to cash

  • Volunteer scheme to foster ‘virtuous’ humanitarian spirit

    A senior education official said volunteer work contributes to solidarity and promotes a virtuous humanitarian spirit among the youth and communities. Serei Chumneas, undersecretary of state at the Ministry of Education, Youth and Sport, made the comment during the opening of a training programme called “

  • Siem Reap’s $18M zoo said to educate public, help wildlife

    Angkor Wildlife and Aquarium Co Ltd has invested $18 million in a zoo in Siem Reap province, which will be opened in October to educate and promote animal conservation as well as attract national and international tourists. Currently, the Angkor Wildlife and Aquarium is building the

  • $50B infrastructure plan en route

    The government’s upcoming $50 billion,10-year infrastructure master plan will provide tremendous investment opportunities for domestic and foreign entities, transport experts and economists say. Minister of Public Works and Transport Sun Chanthol revealed the plan to Japanese ambassador to Cambodia Masahiro Mikami on June 15. At

  • Chinese firms unveil preliminary results on metro, monorail for capital

    Minister of Public Works and Transport Sun Chanthol and representatives from China Road and Bridge Corp (CRBC) and its parent company, the state-owned China Communications Construction Co Ltd (CCCC), met on June 24 for talks on results of the firms’ preliminary study on a potential metro