The Laos government plans to advance digital transformation of the country using blockchain technology. And it has presented the theory of Blockchain 4.0 to the world. Specifically, it is advocating for open collaboration and global co-construction. It aims to boost Laos’ potential to be a builder and beneficiary of the global digital world order through national digital operations.

The government will develop and utilise blockchain technology to digitise various government tasks. For example, it will apply it extensively to administrative management and public services.

To promote the digital transformation of Laos, the Ministry of Technology has signed a cooperation agreement with Singapore’s MetaBank.

MetaBank describes itself as a blockchain technology company dedicated to driving digital inclusion and accelerating the transition to a digital civilisation.

Blockchain can help developing countries overtake on a bend

It is planning to establish a blockchain technology research and development center and develop talents.

According to MetaBank founder and chairman, Frank Sui, blockchain technology can help developing countries “overtake on a bend”. MetaBank said its mission is to serve as the leading solution partner for developing countries using blockchain technology. It aims to accelerate the transformation of developing countries towards digital civilisation, improving the GDP and living standards of developing countries. Building a digital civilisation is based on the three main pillars of digital financial infrastructure, digital asset tokenisation platform, and digital society.