In this blog, we curate relevant and remarkable content related to blockchain, cryptocurrency and the digital economy. This timely piece by ALITA SHARON published on OpenGov Asia reports that, “Governmental agency, MIGHT, hopes that blockchain will not only help boost the country’s economy but also increase transparency and sustainability in the aforementioned sectors.” Read on.
“According to a recent report, Malaysia is looking to use blockchain in three of the country’s largest industries: Renewable energy, the palm oil industry, and Islamic finance.
The initiative will be led by the Malaysian Industry-Government Group for High Technology, known as MIGHT.
The government hopes that blockchain will not only help boost the country’s economy but also increase transparency and sustainability in the aforementioned sectors.
Blockchain is interesting because it allows small players to have a say about what’s going on, according to the program director at MIGHT.”
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For the longest time since paper money has been invented, traditionalists have always had a consistent definition of what a currency is. According to Investopedia, a currency is “a generally accepted form of money, including coins and paper notes, which is issued by a government and circulated within an economy. Used as a medium of exchange for goods and services, currency is the basis for trade.”