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Laos hosts summit on blockchain technology

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Officials pose for a photo at a Laos summit on the future of blockchain technology. vientiane times

Laos hosts summit on blockchain technology

(Vientiane Times/ANN): Government officials from different sectors, business representatives, entrepreneurs and Lao and Chinese experts gathered in Vientiane recently to share experiences and exchange information on blockchain technology.

Participants also debated about trends in blockchain development for future digital business expansion in the region and around the world.

The Global Blockchain Application Conference Laos Summit was held on July 29 by the BST Elephant Chain in Laos, aiming to bring digital technology management investors together to discuss the development and growth of blockchain technology.

During the conference, experts from companies in Laos and China, notably LAEX, WOGC and the BST Group, gave presentations about the integrated digital information system and technology, with the Lao government represented by Deputy Minister of Justice, Bounsavad Boupha.

The blockchain system is the technology integration program of the future, which helps to generate income and benefit via digital currency and contribute to economic expansion through participatory investment, the meeting’s Chair, Mr Xiang Run, said during the opening of the summit.

The event also helped entrepreneurs boost their understanding and have more choice in using digital systems for their business operations in line with international trends, he said.

Laos can benefit greatly from using blockchain technology in business communications and making financial repayments faster, said Mr Xiang Run.

Blockchain technology has already begun to deploy applications around the world.

Different developed countries have realised that there is huge potential for the application of block chain technology in public service and social mechanism optimisation through the blockchain development path.

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