Blockchain Technology to Transform International Development in Papua New Guinea
Blockchain technology is set to be harnessed by global research, evaluation and program implementation company Abt Associates in order to solve problematic issues in international development under a memorandum of understanding with the Central Bank of Papua New Guinea.
The Central Bank of Papua New Guinea and Abt, with funding from the Australian Government, are investigating how blockchain technology could be used in Papua New Guinea to tackle some of the country’s financial inclusion issues. Most of the population in Papua New Guinea does not use banks, which limits economic opportunities for the people. The Bank signed an memorandum of understanding with Abt Associates, supported by the Australian government, to launch the program through the Abt Australia-led Papua New Guinea Governance Facility project.