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Government of Bangladesh partners with Lykke

Bangladesh has turned to Zug’s Crypto Valley for financial insights. The country plans to work with the Zug-based company Lykke to develop a system based on blockchain technology for public services.

Dhaka
Image Credit: AshiqMECUET10/Wikimedia Commons

The government of Bangladesh has signed an agreement with the fintech company Lykke to govern their partnership, announced a statement.

The aim of the partnership is to develop a blockchain system to facilitate digitalized public services.

Lykke is honoured to play a role in the transformation of Bangladesh’s public services, commented Richard Olsen, founder and CEO of Lykke, in the statement.

Blockchain technology holds the potential to reduce the time and cost required to access public services online, including financial services and digital identification. 

Olsen expects the partnership to motivate other governments to revolutionise their public services using blockchain technology.

Lykke is headquartered in Zug. Among the company’s developments is a platform for trading digital currencies. The stock exchange allows for the trade of various cryptocurrencies. 

 

Image Credit: AshiqMECUET10/Wikimedia Commons

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