(Yicai Global) Dec. 5 -- Blockchain-based payment systems are becoming widely used in several developing countries, Chairman Cai Esheng of the Finance Center for South-South Cooperation said at an international cooperation forum in Hainan today.

Many nations are prioritizing developing the decentralized ledger technology because of the revolutionary changes it can bring to society and economies, he added, saying it is spreading into a range of sectors like healthcare, pensions and education.

Editor: James Boynton