A paperwork and presentation on the Harapan Coin which utilises cryptocurrency and blockchain technology has been prepared and will soon be presented to Bank Negara Malaysia (BNM) and Prime Minister Tun Dr Mahathir Mohamad.
It was reported that the Harapan Coin, is set to be the world’s first political fundraising platform using the two technologies.
Federal Territories Minister Khalid Abdul Samad said although the decision and approval from BNM and the Pakatan Harapan (PH) Presidential Council may take a while, he is however determined to continue proposing the project.
Federal Territories Minister Khalid Abdul Samad stated “The decision on the matter is definitely not only from myself but it also involves the important parties such as the central bank and the prime minister.
He also added “I have prepared a presentation to be presented to these important parties and it may take a while to get the approval as the prime minister himself is occupied with tight schedules and this is not the main agenda as of now.
“But, I want to pursue with this project…we should also set up a regulatory body to make sure that the project will not be easily manipulated by outsiders.
“It is something that we will carry out, and this is something for the future,” said Khalid at the Universiti Malaya (UM) Blockchain Technology Lab and National Blockchain Seminar launching ceremony here today.
Khalid, who is the co-founder of the project, said the cryptocurrency technology can also be used to do payment transaction of licenses, payment of summonses and many more, to the government bodies or sectors.
He also said the demand and currency for cryptocurrency will go up if there was a market and demand for it.
“When we use this technology, people will no longer have to fear of trying something that is new to the country (market). They will see that this technology is transparent and has accountability.
“At first they will have doubts and fear towards this technology as it is new to them. But, it is not impossible to carry this out in the future.
“But, what we can see at the moment, most of the private sectors are using this technology as it is not a big risk to take on for their businesses. In most cases, the private sectors are the ones who will be spearheading the changes in technology,” he said.
Meanwhile….. Former prime minister Najib Abdul Razak has questioned the viability of the cryptocurrency Harapan Coin which was mooted by Federal Territories Minister Khalid Samad.
“Harapan Coin? Such creative ideas from the Pakatan Harapan leaders lately.
“All creatures and living things in this universe would lose to them.
“I checked the website and it said it has the potential to be the official currency if Harapan wins the election.
Crypto currency said can be used in various government transactions. So I think that the people need to know.
30 percent given to developer scheme, 30 percent to the national amanah party, 40 percent to pakatan harapan.
I asked again, what exactly is the agenda of this coin hope, and who is actually the profit?
I want khalid samad expose the culprit behind this project.
Name them one by one.
Don’t try to take advantage and persecute the people, I will fight!” Former prime minister Najib Abdul Razak said in his Facebook posting.
Leaving political aside… will Harapan Coin be the change of future of Malaysia or it would be dangerous for ruling party to involved with cryptocurrency as it would damaged Ringgit Malaysia badly?
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