The National Bank of Cambodia has reportedly inked an agreement with distributed ledger tech startup Soramitsu that will find the central bank contributing to its development projects.
Announced today, the goal of the effort is to begin joint work on new payment infrastructure prototypes using DLT systems. But while a host of central banks are studying the technology globally, Soramitsu co-CEO Makoto Takemiya framed the news as unique in that he asserted the central bank has agreed to go beyond "just studying" applications.
Founded in 2016, Soramitsu is best known for its management of the Hyperledger Iroha software framework, to which he said National Bank of Cambodia will now be contributing.
Takemiya told CoinDesk:
"This is extremely exciting because their programmers intimately know what financial institutions need and can help make Hyperledger Iroha ready for systemically important payment systems."
For the startup, the deal adds to past work that has included trials conducted with Japan-based property insurer Sompo Japan Nipponkoa Holdings, while for National Bank Cambodia, it follows its scarce public statements to date about the technology.
As reported by the Phnom Penh Post in 2014, National Bank of Cambodia had previously said bitcoin does not fall under its definition of a currency.
Meanwhile, the trial comes amid an active time for central bank exploration of the technology, with Bank of England, De Nederlandsche Bank and the People's Bank of China all announcing recent initiatives aimed at investigating its potential.
Cambodia image via Shutterstock
PlexCoin Founder Gets Jail Time, Fine on Contempt Charge
U.S. and Canadian authorities appear determined to make an example of a recent initial coin offering.
On Friday, a Canadian court ordered a two-month jail sentence against PlexCoin creator Dominic
'Bitcoin Jesus' is 'really, really concerned' about the future of the digital currency
An early bitcoin investor said Monday the digital currency can run higher, but the hype has far outpaced its usability. "I think in the short run it can run up a lot more," Roger Ver, CEO of
Bitcoin has aspects of a bubble, but it's OK to 'play' with it: Economist Robert Shiller
Bitcoin has "aspects of a bubble" but it's almost impossible to know whether it's gone too far, Nobel-winning economist Robert Shiller told CNBC on Monday. Bitcoin has been on a wild ride
Futures Launch Puts Record Bitcoin Highs Back in Play – Yahoo Finance
Digital currency bitcoin begins trading on major exchange for first time in Chicago WLS-TVBitcoin Futures Started So Hot That Trading Had to Be Halted Twice FortuneBusiness Insider Â âCNNMoney Â â
Understanding Futures: A Primer for Bitcoiners
Lanre Sarumi is the CEO of Level Trading Field, an interactive online platform for professionals in the finance industry.
"Study the past if you would define the future." – Confucius
Bitcoin Price Back Above $17k to Set New All-Time High
The price of bitcoin has pushed back above $17,000, hitting a new all-time high on CoinDesk's Bitcoin Price Index (BPI).
As of press time, the BPI had climbed as high as $17,382.64, beating the $17
People are taking out mortgages to buy bitcoin, says securities regulator
Bitcoin is in the "mania" phase, with some people even borrowing money to get in on the action, securities regulator Joseph Borg told CNBC on Monday. "We've seen mortgages being taken out to buy
Two Firms File Bitcoin ETF Applications in Wake of CBOE Futures Launch
Two exchange-traded fund (ETF) providers have filed with the U.S. Securities and Exchange Commission (SEC) to create Bitcoin ETF products that trade in cryptocurrency derivatives.
According to the