03/08/2021: El Salvador Adopts Bitcoin as Legal Tender
El Salvador becomes the first country to recognize Bitcoin, including Bitcoin Cash (BCH), as a legal tender, leading to increased adoption.
24/02/2021: Bitcoin Cash Becomes Merchant Payment Solution
Bitcoin Cash (BCH) gains traction as a popular cryptocurrency for merchant payments due to its low fees and faster transaction times.
01/01/2021: Digitalization of the kip
The Bank of the Lao PDR introduced digital payment systems and promoted cashless transactions to modernize the use of the kip in the digital era.
15/11/2020: Bitcoin Cash ABC vs. Bitcoin Cash Node
A contentious hard fork occurs within Bitcoin Cash (BCH) community, resulting in a split between Bitcoin Cash ABC and Bitcoin Cash Node.
15/05/2018: Bitcoin Cash Upgrade
Bitcoin Cash (BCH) undergoes a hard fork called ABC upgrade, introducing larger block sizes and smart contract functionalities.
01/08/2017: Bitcoin Cash Hard Fork
Bitcoin Cash (BCH) splits from Bitcoin (BTC) due to a contentious hard fork, increasing the block size to 8MB.
14/10/2013: Kip exchange rate liberalized
Laos liberalized its exchange rate regime, allowing the kip's value to be determined by market forces, leading to fluctuations in its value.
03/01/2009: First Bitcoin Block Mined
The Genesis Block, also known as Block 0, is mined, marking the birth of Bitcoin network.
31/10/2008: Bitcoin Whitepaper Released
Satoshi Nakamoto publishes Bitcoin whitepaper, laying the foundation for peer-to-peer electronic cash system.
02/07/1997: Lao kip devalued
Amidst the Asian financial crisis, the Lao government devalued the kip by approximately 20% against the US dollar.
02/05/1980: Revaluation of the kip
The Lao government initiated a revaluation of the kip, resulting in the exchange rate of 1 new kip to 100 old kip.
02/12/1976: Kip becomes the sole legal tender
The Lao kip was declared as the sole legal tender in Laos, replacing the use of other currencies within the country.
01/01/1952: Currency reform
Laos implemented a currency reform that replaced the French Indochinese piastre with the new kip, at an exchange rate of 100 new kip to 1 old piastre.
12/10/1945: Lao kip introduced
The Lao kip was first introduced as the official currency of Laos following the country's liberation from French colonial rule.