PRI, Brac Bank workshop focuses blockchain for SME

A workshop yesterday focused on technical, business and legal aspects of blockchain technology along with a few promising enterprise usages with emphasis on small and medium traders. 

A blockchain is a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. 

By design, a blockchain is resistant to modification of the data. Its security and authenticity promises in data management bear immense potential for the banking and financial sectors. 

The workshop was conducted by Dr Lawrence Ma, president of Hong Kong Blockchain Society, which promotes developing the technology’s ecosystem, and CEO of EMALI, which helps enterprises leverage financial technology.

Policy Research Institute (PRI) and Brac Bank organised the event titled “Application of Blockchain as a Technology for SME Financing and Mortgage/Lien” at the latter’s head office in Dhaka. 

Academicians, researchers, economists, senior Bangladesh Bank officials, members of the civil society and professionals from banking, telcom, ICT and development sectors participated in the workshop. 

Meanwhile, Dr Ahsan H Mansur, chairman of Brac Bank and the PRI executive director, moderated a discussion. 

It was participated by Dr Ma, Habibullah N Karim, CEO of Techno Haven; Ifty Islam, chairman of Asian Tiger Capital Partners, Dr Zaidi Sattar, the PRI chairman, and Sabbir Hossain, COO of Brac Bank.