This is the first time I'm hearing about Bakong, but I can almost see it happening: the prime minister's niece - charming, very smart, but most of all young (representing the most recent generation of the electorate) introduces a brand new concept: something kinda like Bitcoin, but in the national colors. Oh, wow! And no, unlike El Salvador or the Central African Republic, this one would be "entirely ours". The few silver-haired skeptics are convinced quickly, and a wave of gratitude and excitement rushes through the country, swelling the national pride, and ensuring an (almost) unanimous adoption of this CBDC.
Sorry, I got carried away a bit. But knowing how easily manipulable the broad masses are, I can imagine how something like this would play out. And that would be okay, until they start limiting access to other cryptos. But by then - I hope - there will be new ways to circumvent this restriction. We'll see.
With the dirt I really hope the native plants will do a good job holding it in place. And as for hospital horror stories... 😳 😖 😟 😭 🤢
Well, the only thing that's radically new is the blockchain part. Otherwise there are lots of fintech apps that let you transfer money, store and keep track of your funds if you don't have a bank account. But yes, CBDCs are coming, we knew it. Interesting how Cambodia is among the first.