On May 26, 2023, Laotian government hosted the debut Ministerial Conference around Blockchain 4.0 Digital Transformation at Vientiane, Laos. The conference saw participation from Sonexay Siphandone, prime minister, Laos, along with blockchain experts and individuals belonging to the country’s economic departments, as stated by Cointelegraph.
According to Cointelegraph, MetaBank, a Singaporean software company, stated that the meeting aimed to explore Laos’ digital potential with regard to utilisation of digital technology. It’s believed that the introduction of Blockchain 4.0 topic was done. Reportedly, MetaBank and Laotian Ministry of Technology intends to develop a blockchain research and development platform to back Laos’ Blockchain 4.0 project.
Based on Cointelegraph’s information, the conference emphasised on objectives conferring to Laos’ digital economy such as using digital technology to generate fiscal revenue, bolster foreign exchange reserves, curb inflation, foster economic growth, enhance living standards and boost international competitiveness in the short-term. From what it’s understood, the conference highlighted the proposal to create a Blockchain Technology Transformation Committee.
Moreover, Cointelegraph noted that Siphandone spoke on need for blockchain in government applications and its usage in administrative management and public services. Reportedly, Siphandone correlated blockchain with Laos’ ninth five-year plan for national, economic and social development.
(With insights from Cointelegraph)
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