A NEW SMART BL;OCKCHAIN
Mar 31, 2025
Intro of the news
Intro of the news
Bangladesh is actively exploring the integration of blockchain technology across various sectors to enhance transparency, reduce costs, and combat corruption. Prime Minister's Private Industry and Investment Adviser, Salman F Rahman, emphasized the importance of adopting blockchain to remain relevant in a rapidly evolving world. Echoing this sentiment, State Minister for ICT, Zunaid Ahmed Palak, highlighted blockchain's potential to ensure accountability in financial and administrative activities. In line with these views, Finance Minister AHM Mustafa Kamal has urged banks to implement blockchain technology to reduce operating costs and enhance security.
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Enhancing Transparency: Blockchain can help reduce corruption and ensure accountability in financial and administrative processes.
Government Support: Officials, including Prime Minister's Adviser Salman F Rahman, advocate for blockchain adoption to keep up with global technological advancements.
Banking Sector Reform: The Finance Minister urges banks to use blockchain to cut operational costs and improve security.
National Blockchain Strategy: The government is developing a national strategy to identify application areas and address challenges in blockchain adoption.
Economic and Technological Growth: Integrating blockchain can drive innovation, boost efficiency, and contribute to Bangladesh's digital transformation efforts.
“ Blockchain's decentralized and immutable nature allows for real-time tracking and reduced risks of fraud, streamlining processes like document verification and cross-border payments. ”
Miranda H. Halim
To facilitate this technological shift, the government is formulating a national blockchain strategy aimed at identifying application domains, addressing challenges, and promoting innovation. This strategic approach underscores Bangladesh's commitment to leveraging emerging technologies for sustainable development.
