Laos explores rare earth token project to boost economy

Image from Laotian Times.

VIENTIANE (Laotian Times): The Lao government is exploring the possibility of launching a pilot rare earth token project to generate more foreign currency and bolster the country’s economy, Prime Minister Sonexay Siphandone discussed at the monthly cabinet meeting in Vientiane.

A rare earth token pilot project is an initiative to explore the feasibility and potential benefits of using blockchain technology to facilitate the trading and management of rare earth elements (REEs), a group of 17 metals with unique properties that make them essential for a wide range of high-tech applications, including smartphones, wind turbines, MRIs, hard disk drives, LEDs, and electric motors.