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

  • Virus tops 84 with new cases in S’ville

    The Ministry of Health on Sunday night confirmed another 31 cases of coronavirus infections, bringing the Kingdom’s total to 84 and it highest daily tally. There have been no fatalities thus far. The latest cases were found in 29 French tourists and their two Cambodian tour guides

  • Two French tourists latest Covid-19 cases in Kingdom

    The Kingdom on Saturday saw two more cases of coronavirus infections, bringing the total to 53. While the majority of the previous cases are linked to a Muslim religious gathering in Malaysia, the latest cases involved two French tourists visiting Sihanoukville. The Ministry of Health said

  • Kingdom’s virus toll tops 84, Cambodians in Thailand rush home

    The Ministry of Health on Sunday night confirmed another 31 cases of coronavirus infections, bringing the Kingdom’s total to 84 and its highest daily tally. There have been no fatalities thus far. The latest cases were found in 29 French tourists and their two Cambodian tour guides

  • NBC calls for cashless payments

    The National Bank of Cambodia (NBC) has urged government ministries, financial institutions and the public to conduct cashless payments via electronic systems where possible to combat the spread of Covid-19. “To contribute to the prevention of Covid-19, the National Bank of Cambodia encourages financial institutions

  • CEO held for fraud in Siem Reap

    Over 200 individuals gathered in front of the Siem Reap Provincial Court last week to ask that Dim Suonnath, the CEO of a real estate company being held for fraud, take responsibility for compensating some 2,000 residents who invested with him. The request was denied. Suonnath responded

  • Ministry calls for home schooling

    Minister of Education, Youth and Sport, Hang Chuon Naron appealed to parents of students to provide home education in a proper environment and help them obtain more learning materials. The ministry also allowed schools to take a premature vacation after several people tested positive for