Cambodia to Issue Crypto

Venezuela issuing its Petro cryptocurrency has inspired Cambodia to release its “own cryptocurrency,” according to the local Blockchain industry, Bitcoinist reported. A press release for the country’s forthcoming ASEAN 2018 Blockchain Summit, which will take place in the capital Phnom Penh March 7, tells readers to expect a “notable” announcement regarding a new payment medium called Entapay. According to organizers, the project, once launched had the potential to “replace” payment giants such as VISA. “Entapay will be expected to become the connection between integration payment of encrypted currency and the real world. It has the great potential to even replace VISA as the new mainstream payment mode,” they claim. Venezuela’s Petro has divided sentiment both at home and abroad since it launched early February. “On February 2, the Venezuelan government began the pre-sales of a kind of digital currency called Petro. It aims to assist the country in avoiding the Western world’s economic sanctions–while providing a new channel of economic development for a country suffering from severe inflation,” the release states.