Asia ICT

Blockchain – the distributed-ledger technology that underpins cryptocurrencies such as Bitcoin – appears set to transform a wide variety of industries and perhaps fundamentally change the way business is conducted across the global economy.

Despite a wave of investments and advances in ICT infrastructure, internet speeds in Papua New Guinea are still among the slowest in the Asia-Pacific region. The average download speed is 4.28 Mbps, which compares poorly with 20.9 Mbps in New Zealand and 39.33 Mbps in Australia.

The arrival of Jamaica-based telecoms firm Digicel in 2007 was a game-changer for Papua New Guinea’s ICT sector. The country’s internet penetration rate rose from just 1% at the time to 11.7% in 2016, while the mobile phone penetration rate also jumped considerably, from 1% in 2005 to nearly 50% in 2017.

While still lagging behind many of its neighbours in the Asia-Pacific region, the ICT sector in Papua New Guinea has seen significant progress in recent years, which has helped ensure expansion of coverage and offerings. An increase in sector investment has helped both local and international companies expand into rural areas, while telecoms...

New blockchain solutions and devices are being trialled in Papua New Guinea as part of the government and central bank’s efforts to foster greater financial inclusion. A number of initiatives are already under way as global tech firms move to develop the country. Additionally, as many APEC member counties also experience low financial...

Blockchain – the distributed-ledger technology that underpins cryptocurrencies such as Bitcoin – appears set to transform a wide variety of industries and perhaps fundamentally change the way business is conducted across the global economy.