The Thailand government has been working to ease the economy of the Asian nation, and their latest effort is a retail oriented digital currency that would be geared towards helping the country’s economy grow faster.
Furthermore, the assistant governor of the central bank of Thailand, Vachira Arromdee, made a statement on the CBDC, explaining that the bank will actually start trying out the digital currency in the second quarter of 2022, as they would like to consider all possible angles before committing the nation’s finances to anything.
Thailand’s central bank isn’t unprepared either, having already built a prototype interbank transfer system called Project Inthanon. However the retail CBDC isn’t quite as simple, serving as a means of trusted payments at retail level, means use by Thai family’s and simple households, which makes the integration more difficult.
A retail CBDC, would however, be a positive development for the Thai economy. One that promises to bring financial stability and safe transactions for the general populace and the mega corporations alike.