Digital Money Cambodia: The Cambodian Government is ready to issue their own cryptocurrency Entapay. They have also banned the cryptocurrency transactions which creates a state of confusion among cryptocurrency entrepreneurs. Men Sam An, Cambodia’s Deputy Prime Minister, recently announced the launch of Entapay, a cryptocurrency.
Entapay is a government supported, multi-functional digital currency payment system consisting of storage management, trading, exchange and offline transactions in Cambodia. It can be viewed as a decentralized Alipay application based on blockchain technology. The digital money Entapay was announced as the Crypto of Canadian Government as it is inspired by Venezuela’s newly-released cryptocurrency, the Petro.
About Government Cryptocurrency Entapay
Entapay derives its name from the Quantum Mechanical Phenomenon of Quantum Entanglement, which features secure encryption and transmission of information. As a multi-functional payment system, Entapay removes the inconvenience of managing multi-digital currencies, the laborious process of trading, and insufficient physical trading sites. Entapay will provide off-line exchange services for other cryptocurrencies. Entapay will replace VISA as the mainstream payment method.
Because of this Cryptocurrency Entrepreneurs suffer a lot as all the crypto transactions were banned in the country. The National Bank of Cambodia has been reluctant to support cryptocurrency, according to Mean, the lead developer of the Khmer Crypto Foundation. So the Government felt that it is a good sign as the national bank is ready to use the blockchain technology. It is hoped that the inconvenience among the crypto traders will be soon solved.