Cambodia is proving to be an attractive target for crypto-currencies,
with one of the most recently established operators of virtual money declaring
their intention to roll out terminals in Phnom Penh this year.
Officials of the foundation that founded Blackcoin, a digital-currency
formed in February by a Russian developer, say they have secured the purchase
of two terminals; one to facilitate exchange between US dollars and Blackcoin,
and the other to make retail payments.
Like other crypto-currencies, Blackcoins are purchased online for legal
tender and then traded directly between one Blackcoin holder to another without
the need for a third party, such as a bank.
As at 5pm yesterday, there were more than 74 million Blackcoins in
circulation, with a total market value of more than $9 million, or $0.12 per
coin. There are now an estimated 290 different crypto-currencies, including
Blackcoin and the flagship Bitcoin, currently being traded online. In March,
local businessman Ki Chong Tran submitted a request to the Bitcoin Foundation
asking for a $100,000 grant to establish a crypto-currency network with ATMs
here in Phnom Penh.
Newcomer Blackcoin has also called on Cambodia’s largest payment
transfer and remittance service, Wing, to help facilitate acceptance of
crypto-currencies in Cambodia. However, Wing CEO Anthony Perkins said that
while crypto-currencies are an “exciting” development, his firm’s stance on the
issue was in line with that of the NBC's. “Wing is not in a position to
consider direct cooperation with such entities for electronic transactions or
interchange until such time as they or their new currencies are recognised by
the NBC.
Source:
http://www.phnompenhpost.com/business/crypto-currency-eyes-cambodia-new-terminals
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