The Lao government has announced its intention to integrate blockchain technology into social, economic and government structures.
Prime Minister Sonexay Siphandone announced the creation of a Blockchain Technology Transformation Committee, which will be responsible for overseeing legislation related to the digital economy.
“Laos is set to become the first country on the planet to fully digitalize.
It will redefine the country’s role in the world, give advantages in economic development and help improve the lives of the people,” Sonexai Sipandone proclaimed.
Laos’ technology ministry said the process of preparing for the digital transformation of the economy through blockchain has already begun.
The ministry has signed a technology cooperation agreement with MetaBank, a Singapore-based bank.
The parties intend to create a blockchain research and development center, as well as organize education and training of the necessary personnel.
Earlier, the Federal Executive Council of Nigeria adopted and approved a plan for the digital transformation of the national economy and called for the widespread adoption of blockchain.