THE world is always changing with new scientific and technological advances.
Small developing nations are beneficiaries of some of these developments.
We are entering a new era of digital finance where physical currency will cease to be the medium of trade at the world stage.
Whether this will significantly change the daily life of the ordinary people here in PNG, is to be seen.
Communications and Information Technology Minister Sam Basil announced recently the need for PNG to integrate digital technology in trade and investment with the Apec member countries.
NCD Governor Powes Parkop preferred Blockchain Pasifik as a tool for banking and e-commerce, giving reasons justifying his preference.
Bank of PNG Governor Loi Bakani delivered a very informative speech, published on June 21 in The National ‘Digital tech game changer’, stressing the need for digital financial literacy.
People need to know digital technology and financial systems and the benefits and risks involved, to be more prepared to embrace the change when it comes.