Committee
Asia-Pacific Economic Cooperation [University/College only]
Country
Brunei Darussalam

Author

Cite as https://mymun.com/ppdb/3534

COMMITTEE : ASIA-PACIFIC ECONOMIC COOPERATION DELEGATE : MUHAMMAD T. P. FACHREZZY

I. CRYPTOCURRENCY In the past few years with the massive development of Internet, Cryptocurrency has emerged as the new platform for financial transaction. One of the cryptocurrency, Bitcoin, leads the market cap with colossal figure US$ 7B, shows that cryptocurrency could be inevitable transaction platform soon. Delegate of Brunei Darussalam believes cryptocurrency will make all trade in goods and services between countries a lot more efficient and adequate, since Brunei Darussalam imports most of the goods and services to run its country. Brunei Darussalam also believes cryptocurrency will help the development of micro, small, and medium enterprises that we have been trying to strengthen, to reach global market. The convenience of bitcoin is that fraud has been rendered an impossibility: due to the nature of the bitcoin protocol, all transaction are irreversible and with bitcoin, transac...