Papua New Guinea's central bank and the Australian Government are investigating how a new technology could help impoverished PNG villagers engage with banking, finance, and the broader economy.

The Bank of PNG and an Australian aid contractor are looking at how Blockchain - a system of recording and validating online transactions - could dramatically improve PNG's low rate of financial inclusion.

The project could ultimately see Papua New Guinea leap-frog more developed economies and provide a way to help people who are missing out on opportunities and services.

Featured:

Rabbie Namaliu Jnr, manager of private sector innovation and economic growth, Australian-funded PNG Governance Facility

Loi Bakani, Governor, Bank of PNG

Dr Pip Ryan, School of Law, University of Technology Sydney