Tech
Blockchain in Thailand Gets Boost from New Leader
Blockchain technology in Thailand may soon get a boost under new Prime Minister Srettha Thavisin, who has promised during his campaign to donate 10,000 baht ($300) via digital wallets to every Thai citizen aged 16 and over.
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Quick facts
- Sretta, a former businessman, had said that the payment would be ready via digital wallets on January 1, 2024, if he won the election. The initiative would cost around 500 billion baht ($14.3 billion).
- The digital money, valid for six months, can be spent within four kilometers of the recipient’s home and can be accessed using national identity cards, according to a Bangkok Post r.report.
- The one from Thailand new leader he is also one of the founders of the Sansiri real estate company, which acquired a share of 15%. XSpring Capitala local digital asset service provider.
- It also introduced Sansiri SiriHub token on XSpring, marking Thailand’s first initial coin offering of real estate-backed tokens.
- Thailand has been actively regulating the cryptocurrency industry, with the announcement by the country’s Securities and Exchange Commission rules ban cryptocurrency companies from providing custodial services that yield returns to depositors and financiers, covering both lending and staking of cryptocurrencies.
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