“The official launch of Lao QR code is of particular significance in the development of domestic payment in the country to ensure the modes of payment convenient, safe and secure and also in line with pace of international payment development. It is also intended to implement the financial sector development strategy towards a cashless society in Laos and serve the era of digital economy.“
The first step towards CBDC implementations is always addressing digitization which opens the door to digital services.
The Bank of Lao PDR is committed to a cashless payment system and made the first steps with a QR code implementation.
The GDP per capital rose significantly since 2000.
A lot of population is in rural areas and any digital infrastructure would clearly help people in rural areas.
Internet usage is around 50% so there is still significant work to do.
Any CBDC program will be built on top of the emerging digital services.