Cambodia's Central Bank tests Blockchain for an economy without cash

The problem to solve is the country's dependence on the US dollar and the scarcity of a modern mercantile infrastructure. Given this situation, the adoption of technology by civilians opens the door to the use of Blockchain as a possible way to deal with the situation.
In Cambodia, monetary policy is dictated by its dependence on the US dollar and the country's central bank is actively seeking solutions to take control of its economy in its own way. In addition, Cambodia lacks a modern financial infrastructure to support commercial scale banking. The scarcity of ATMs in the country is an example. But on the other hand, aggressive growth in smartphone adoption rates - a 2016 study showed that almost 50% of Cambodians own at least one smart phone - presents an opportunity for new financial technology solutions.