Representatives from the Lao Ministry of Science and Technology and Lina Network Joint Stock Company on Tuesday signed a Memorandum of Understanding (MoU) for the deployment of digital identity using Blockchain technology. 

The signing ceremony of Memorandum of Understanding for the deployment of digital identity using Blockchain technology

The move is considered Laos' stride to take advantage of opportunities from the Fourth Industrial Revolution.

Under the MoU, the two sides will implement the agreed areas of cooperation by joint participation in research projects involving Blockchain technology in Laos. This aims to encourage capacity building and human resource development and the establishment of a Blockchain Research and Development Centre under the ministry.

At Lao Blockchain Forum 2018 held in Vientiane on the same day, Minister of Lao Science and Technology Boviengkham Vongdara said that taking advantages of the Fourth Industrial Revolution would help bring positive changes for a country’s sci-tech development. After the careful research, the Lao government decided to select Blockchain technology which is expected to bring great breakthroughs for the database management.

According to Minister Boviengkham, the Blockchain Research and Development centre will focus on seeking and training human resources for the country’s sci-tech development.

Lina Network Joint Stock Company CEO Vu Truong Ca said the digital identity using Blockchain technology is a new solution with the high security. This technology helps digitise databases quickly in a safe way. All information shared by users through Blockchain technology is seen as a public document on the digital platform. 

Minister Boviengkham added besides the state management, the Blockchain technology adoption will allow the Lao citizens access to various public services as the technology can be utilised in many areas such as agriculture, finance, banking and healthcare.

Laos will concentrate on preparing human resources and completing necessary legal documents to meet the demand for the Blockchain technology application.