Cambodia launching its Crypto Entapay
Inspired from Venezuelan, Cambodia has proposed to launch its own crypto project called Entapay. The news came into focus post their announcement to the Association of Southeast Asian Nations (ASEAN) in the Blockchain Summit held on March 2.
According to the press release, declared in the blockchain summit, Entapay is a project based on the quantum entanglement of security and encryption, which will use blockchain technologies to create faster and secure user experience. It has equal potential of like VISA to become the new mainstream payment system. It is expected to provide a real connection between the integrated payment of encrypted currency and real world.
Entapay is directly in frame of comparison to Venezuelan’s Petro, which they classify as digital currency that assists the country in avoiding the western world’s economic sanctions.
Well this Blockchain Summit is not the first attempt of Cambodia to enter into the venture of blockchains. During last summer, the National Bank of Cambodia partners them with Japan Blockchain Identity Company to test distributed ledger technology for payment services. Meanwhile, Cambodia has announced that they might release their own national cryptocurrency, ‘Entapay’ with an ICO and free trading by the end of February 2018.
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