The Cambodia Blockchain platform is steadily being rolled out, with support coming from 11 commercial banks and the National Bank of Cambodia expected to be "the first central bank to put a blockchain-based payment system into widespread use."
The launch comes after the successful completion of a pilot in 2019. Titled 'Project Bakong,' the next-generation system will enable secure peer-to-peer payment and money transfer. The innovation in the newly enabled Cambodia Blockchain platform is that it brings all services—from e-wallets, mobile payments to online banking and financial applications—into one "easy-to-use interface for any preferred bank account."
In addition, the newly developed Bakong app will also allow individuals to track their transactions and to request money through a personalized QR code.