Electronic voting was used in Nepal for the first time in the 2008 Constituent Assembly polls in Kathmandu. The response to the pilot test of electronic voting machines was positive.
The effective implementation of the Digital Nepal Framework and achievement of all 80 initiatives under the eight sectors, requires enhanced ICT infrastructure and qualified human resources.
The outbreak of COVID-19 and the consequent fear of using contaminated currency aided the country’s shift from completely paper-based economy to a somewhat cashless state.
While the initial improvements in the platform have had a big impact on attracting Nepali people towards the capital market, Nepal has potential for development in terms of increasing the convenience for investors.
With the progress in the payment landscape over the past 10 years and the push towards digital transaction from COVID-19, Nepal has all the recipes in place for the fintech landscape to accelerate.
The potential of data to drive high growth in several sectors of the Nepalese economy remains high yet untapped.