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
Creditbit Price Falls, Community Remains Unfazed
Creditbit has finally succumbed to the current Crypto market trend of crypto prices falling. The Cryptocurrency prices are down and especially the altcoins or anything associated with Ethereum has
DECENT Announces the Launch of its Content Platform and DCT Tokens
DECENT, the Swiss digital content distribution platform, is set to launch on June 30, 2017, following its highly successful ICO last year which raised 5,881 BTC. DECENT, a peer-to-peer content
DASH/USD and LTC/USD Technical Analysis June 26, 2017
DASH/USD and LTC/USD Technical Analysis June 26, 2017 DASH/USD DASH continues to look bullish as we rallied on Friday, reaching the $190 level. Itâs likely that we will go looking for the $200
Ethereum Classic Price Technical Analysis – ETC/USD Breaks Key Resistance
Ethereum classic price is trading well against the US Dollar and Bitcoin, and ETC/USD is holding a major support area above $17.60-50. There were declines in ETC price earlier this past week
BTC/USD and BTC/JPY Technical Analysis June 26, 2017
Hello and welcome to News BTCâs Market Outlook June 26. BTC/USD Bitcoin initially tried to pull back slightly on Friday, but bounced higher as it looks like we are going to head to the 2800
Ethereum Price Technical Analysis – ETH/USD Clears Major Support
Ethereum price continued to trade lower against the US Dollar and Bitcoin, and it looks like ETH/USD may continue to face sellers as long as it is below $300. It looks like a major correction wave
ETH/USD and ETH/BTC Technical Analysis June 26, 2017
Hello and welcome to News BTCâs Market Outlook June 26. ETH/USD Ethereum markets rallied a bit during the day on Friday, as we continue to find a certain amount of bullish pressure underneath.
Creditbit Price Technical Analysis – Can CRB/BTC Hold 0.00025BTC?
Creditbit price is declining and facing a lot of sellers against the US Dollar and Bitcoin, but CRB/BTC is now testing a major support area at 0.00025BTC. It looks like there is no stopping