Using blockchain, Central Bank aims to make PNG capital of FinTech in the Pacific.

By NIGEL KAUA | NEWS

Blockchain Technology or Distributed Ledger Technology (DLT), an IT infrastructural platform, blockchain provides a global public ledger capable of automatically recording and verifying a high volume of digital transactions, regardless of location.

Its capability in handling high volume of data in accurate manner especially financial transactions is interesting to the business world. It has attracted the attention of the banks. It can solve some of their conventional problems in data management, transferring and storing data independently.

In Papua New Guinea (PNG), the Bank of Papua New Guinea (BPNG) has spent the last few years researching and trialling the use of Distributed Ledger Technology (DLT) or blockchain technology.

BPNG has successfully completed a ‘Proof of Concept’ in both an urban setting (that is, in Port Moresby) and a rural setting, in Lalaura Village, Abau District, Central Province.

Its ‘Proof of Concept’ will be piloted locally and will engage local expertise in this exciting project, tailored by locals for local applicable and usage.

The Bank will train suitable qualified and enthusiastic Papua New Guineans to develop the skills and capabilities to build a variety of business solutions using this technology.

A paid advertisement was calling for registration of interests to identify the level of interest within the Papua New Guinea software development community to take this opportunity prior to it committing time, money and resources in enabling this to occur.

Ideally, BPNG was seeking individuals that have a software development background, although other respondents may be considered. A basic level of familiarity with computing basics and standard desktop software (e.g. word processing, spreadsheets, etc) and software development lifecycle was required.

The bank preferred that any person with experience in the development of DLT solutions or blockchain technology in use cases is not a pre-requisite. However, respondents may be required to undertake an aptitude test to assess their capacity to undertake this kind of work.

BPNG requires practical, hands-on people who want to help Papua New Guinea become the FinTech Capital of the Pacific, without total reliance on overseas expertise.

In addition, BPNG was looking for individuals who can support the Bank’s values of: Accountability, Efficiency, Integrity, Professionalism, Teamwork and Transparency.

The Bank declined to accept registrations from individuals who have no particular interest in the blockchain technology, programming or problem solving.

BPNG was actually looking for individuals who can demonstrate, the following personal attributes:

numerical problem solving, logical reasoning, pattern recognition, ability to follow complex procedures, time management, creativity, teamwork, determination, clear & concise documentation and ability to learn new skills quickly.

BPNG was seeking to develop in-country expertise in the development of DLT solutions and blockchain technology, with the aim to make PNG the capital of FinTech in the Pacific.

BPNG can be contacted regarding information on blockchain training via email at: DLT.training@bankpng.gov.pg Submissions close by 5pm, 21 December 2018. -Via Garamut News.

BPNG seeks local blockchain enthusiasts to implement its ‘Proof of Concept’

By NIGEL KAUA | NEWS

The Bank of Papua New Guinea (BPNG) has spent the last past two (2) years researching and trialing the use of Distributed Ledger Technology (DLT) in Papua New Guinea.

Having successfully completed a Proof of Concept in both an urban setting (Port Moresby) and a rural setting, Lalaura Village, Abau District, Central Province, the Central Bank has been presented with an opportunity to train suitable qualified and enthusiastic Papua New Guineans to develop the skills and capabilities to build a variety of business solutions using blockchain technology.

The Central Bank is in a mission to identify the level of interest within the PNG software development community whom can be able to participate to implement the Proof of Concept.

BPNG Governor Loi M. Bakani is calling on interested Papua New Guineans who are keen for a training opportunity in blockchain technology to contact the bank. The training will commence in early 2019.

In a statement released to PNG media, Mr. Bakani stated that prior to committing time, resources and money (funding) in enabling the implementation of the Proof of Concept, a pool of blockchain enthusiasts from PNG to be identified and selected.

In association with the APEC 2018 meeting, an International Blockchain Pasifik 2018 conference was hosted in October in Port Moresby, gathering a pool of blockchain enthusiasts and startups in PNG and the Pacific.

The Blockchain Pasifik 2018 conference was sponsored by the Australian Government and supported by PNG Government which sees a pool of interesting blockchain startups from PNG and the Pacific.

Blockchain Pasifik 2019 conference will be announced earlier next year.

The Central Bank does not wish to receive registrations of interest from individuals who have no particular interest in technology, programming or problem solving.

This is not directly related to immediate employment opportunities with BPNG.

For more information about the BPNG training on blockchain technology and its application in PNG, visit BPNG’s official website at https://www.bankpng.gov.pg - via Garamut News.

     

BPNG’s blockchain ‘Proof of Concept’ trialled in Port Moresby and Central Province

By NIGEL KAUA | NEWS

In Papua New Guinea (PNG), the Bank of Papua New Guinea (BPNG) has spent the last few years researching and trialling the use of Distributed Ledger Technology (DLT) or the blockchain technology.

BPNG has successfully completed a ‘Proof of Concept’ in both an urban setting (that is, in Port Moresby) and a rural setting, in Lalaura Village, Abau District, Central Province.

Its ‘Proof of Concept’ will be piloted locally and will engage local expertise in this exciting project, tailored by locals for local applicable and usage.

The bank has sent out an invitation, through a paid advertisement in the newspaper seeking suitably-skilled and minded individuals to submit a Registration of Interest to participate in potential Distributed Ledger Technology (DLT) software development or blockchain technology training.

Selected individuals were invited to participate in a series of interviews, aptitude tests and trials to secure a potential place in DLT software development and blockchain technology training course. 

The bank wants to train local Papua New Guineans on blockchain technology and DLT to take lead in FinTech in PNG and the Pacific.

All registrations should be completed on-line and e-mailed to the BPNG via its point of contact; Avilly Bina, The Quality Assurance, Change & Policy Manager. Email address: abina@bankpng.gov.pg . Submissions close by 5pm, 21st December 2018. - Via Garamut News. 

PNG Digital Association reckons Blockchain will boots trade in the country

UPNG Economics finals student Henry Toua (left) with Hon. Bryan Kramer, who are attendees at Blockchain Pasifik, being held at the International Convention Center in Port Moresby, October 2018

THE PNG Digital Commerce Association is confident that the blockchain technology has the power to transform the buying and selling of goods and services in the country.

The first stakeholder meeting for was held in Port Moresby to progress the technology across the country.

The meeting was attended by more than 50 stakeholders from banking, finance, business and mobile phone industries to progress the use of digital commerce in PNG.

Digital Commerce is the buying and selling of goods and services using the internet, mobile networks and commerce infrastructure.

Bank of PNG Governor Loi Bakani and association patron and its president Isikeli Taureka encouraged stakeholders to be involved in the new association.

Both were confident that the new technology also has the power to give all people access to financial products and services.

“This technology has the potential to transform business operating models by giving people access to goods and services through the internet or mobile phones,” Bakani said.

“The use of digital technology can bring greater efficiencies to supply chains and financial transactions, giving more power to people and small businesses who may not have access to traditional banking and finance infrastructure.”

The association will be officially launched next year and is currently calling for expressions of interest to become members of its board.

The association is being set-up to develop, promote and support digital commerce practices and standards in Papua New Guinea, and to engage with the government on strategy, policy, law and legislation.

“We are keen to encourage businesses to use new methods to process transactions,” Taureka said.

“This is a new area for Papua New Guinea, but we are confident the new association’s focus on digital commerce will attract a range of stakeholders who can move this initiative forward.”


Source: The National newspaper