Property Investment Cambodia -ProximaX and Dragonfly sign MoU with CVA and NCDM

Property Investment Cambodia -ProximaX, a leading integrated and distributed ledger technology provider has partnered with Dragonfly Fintech, a payment service provider licensed by the National Bank of Cambodia, in signing a memorandum of understanding to build mobile applications and a veteran management information system (VMIS) for the Cambodia Veteran Association (CVA) and National Committee for Disaster Management (NCDM).

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The MoU was signed on Jan 2 and also provides for maintenance of the information system.

The VMIS and mobile application will be built on the ProximaX Sirius platform, a development platform built on decentralised technology stack.

The mobile application developed will be integrated with Dragonfly’s Payluy eWallet as the preferred payment service provider for its users.

The VMIS is being developed to manage relevant Cambodian veteran data by using state of the art technology to ensure confidentiality, security and maintain large amounts of data efficiently and effectively.

The app will allow members of the CVA, NCDM civil servants and members of the public to freely download, access and follow the latest information and activities related to the CVA and NCDM. The mobile application will also be used as an early-warning channel to provide people with sufficient warning to make disaster preparations.

General Manager of Dragonfly Fintech Richard Chung welcomed the move. According to Chung, the mobile apps will help Dragonfly provide thousands of CVA, NCDM and members of the public with access to payment and financial services and promote financial inclusion through the Payluy eWallet platform.

ProximaX Cambodia representative Richard Soo, noted that the ProximaX Sirius platform has been certified by the National Institute of Standards and Technology and Malaysia Cybersecurity. Its advanced technology includes security and encryption, immutability (meaning it cannot be changed, deleted, and hacked), decentralised streaming media and its storage systems. Soo also said that ProximaX Cambodia was established on July 2, 2018, in order to introduce modern and advanced technology to the Kingdom to the benefit of Cambodian consumers.  He believes the apps’ integrated Payluy eWallet will provide users with better, safer and faster access to payment services.

Modernising the information management system is one of the priorities laid down by H.E. Gen. Kun Kim, Senior Minister in Charge of Special Mission and Secretary-General of the Cambodia Veteran Association and First Vice-President of National Committee for Disaster Management (NCDM) to ensure the vision for the CVA and NCDM being able to supply evidence-based, timely and adequate information to decision-makers and the public.

H.E. General Kun Kim expressed support for ProximaX and Dragonfly Fintech to provide VMIS and mobile applications. He believes that with CVA, NCDM and the two companies’ joint efforts, the mobile applications will provide Cambodian veterans and the general public with more access to quality information, particularly timely disaster early warning information as well as necessary services for the support of Cambodian veterans.