Bitcoin Forum

According to the Bank of Thailand, the use of e-currency by the banking system will reduce transaction processing time and time of confirmation, as well as reduce transaction costs.

Bank of Thailand Governor revealed in a speech yesterday that the Bank of Thailand is considering the release of its own electronic currency.

In particular, in a speech on Thailand's economic development at the Singapore-based Nomura Investment Forum (NIFA) in Singapore, Governor of the Bank of Thailand, Veerathai Santiprabhob talked about a new project in which Ngan Central banks and other Thai banks will work together and develop a new way of dealing with domestic banks, a new kind of electronic money will be issued by the Central Bank of Thailand It is called CBDC.

Theo Ngân hàng Trung ương Thái Lan cho biết, việc sử dụng đồng tiền điện tử của chính hệ thống ngân hàng sẽ làm giảm thời gian xử lý giao dịch và thời gian xác nhận, cũng như giảm chi phí trong giao dịch.

Governor Veerathai Santiprabhob noted that banks do not favor CBDC, but will focus on exploiting the potential of technology, such as blockchain. The governor stressed that financial institutions are a "coordinator of innovation," but also an "adjustment to safeguard domestic financial stability":


In addition to considering the release of the new electronic currency, the Governor also talked about the benefits of the financial system through blockchain technology, and stated that other banks in Thailand are working closely with the Central Bank To be able to apply blockchain technology in practice.

Recently, in Vietnam during the interrogation session on June 6 when some members of the National Assembly talk about the management of electronic money Bitcoin questioning Deputy Prime Minister Vuong Dinh Hue, National Assembly Chairman Nguyen Thi Kim Bank immediately: Vietnam's law does not allow the circulation of electronic money.

I wonder though how this will affect the paper Baht currency. I think mainly banks will use the blockchain to facilitate speed of transactions rather than stopping to print paper money. Although it will be good to see how Thailand emerges in this digital currency space and how it will progress. Any adoption of blockchain technology is a good thing in my books and as I want to visit Thailand one day with my Wife I will want to know by then at what level they implement it.

Its definitely good news. Cryptocurrency and blockchain distributed around the world, and we can soon see the dawn of these technologies. Sure, now we are on the verge of something great.

This is another plus for cryptocurrencies lover and we need more of this good news than bad news because of the state of the market.  Thailand introducing they one cryptocurrencies or e-currency will create more adoptions by business and individuals around that region.

The firld of e currency is improving day by day. But, let's see how long it exists and get popularity to people.

Electronic money has been used extensively in a number of countries around the world. Thailand is considering and regulating the use of electronic money. The Bank of Thailand said the use of e-money by the bank would reduce transaction processing time and time to validate and reduce costs.

It's not that popular in Thailand? Dude you being serious? Indochinese people are by far the largest contenders of ICO bounties and airdrops. Don't take this personal but usually they are a bit short on intelligence. But half of them can't even understand what you wrote.

On the other hand, that is great news! They'll delve into the potential of blockchain, more research, more and more!

I think Thailand does not have this strength. I think Thailand's coin investment is of little value. Because Thailand's own economy is not ideal. It is not like Japan.

Recently, banks began to accept the cryptocurrency, including the JPMorgan bank, I very much hope that soon we will see a green color in the cryptocurrency market.

Its a great news indeed. Cryptocurreny is widely spreading around the world. It really feels great to see that everyone is accepting it without any doubt.

Their own local economy is not developed well but in built up areas there is a lot of tourists that would be willing to pay using electronic currency. Also, it would attract crypto investors to visit as they can convert their bitcoins to it and spend in their country

If this is true, it will be awesome news. The crypto industry needs more friendly countries and more adoption like this. And we will soon see crypto market skyrocket again

That's why the majority of countries are considered to use it soon. I remember that EU has already considered to use its own crypto in the future and the reliable news has told me about it will be save more than 75 billions through use the online payment system. And this is interesting to watch. I would like to see more and more countries are moving toward digital currency.

If they really take such measures, I will definitely buy the electronic money that they issued. I think this is a good opportunity to make money! I look forward to its arrival!

That would be great. If other country will see that and the transaction is working smoothly, for sure they will adopt it also.  
There must be a country that will start using a digital currency so the others will follow and will not be afraid of using blockchain.

I've never been in Thailand before, but I've always wanted to visit this wonderful country. Now a lot of countries are joining payments in cryptocurrencies - Switzerland, Australia, Thailand. And this list of countries is increasing every day. I have not been to any of these countries. But I would be delighted if I could pay for something using cryptocurrency. :)

The bank of Thailand says that the use of electronic currency by the banking system will reduce the transaction processing time and the time of confirmation. As well as will reduce the cost of transaction.

This types of news always makes happy each of the investor. Nowadays crypto becoming popular whole the world. For this reason peoples are more invest on this market.

I think this will happen in the future in very many countries, and at some point all countries will adopt this. The benefits of using electronic currency are just too big to ignore.

But this is very interesting, but probably this money will only be valid within the country and no more. Made for the domestic market and verification of how it will affect the economy and other sectors of the country's development.

This is a very good news for cryptocurrency space. If they succeed sure other countries will adopt the same measure and mass adoption of crypto will take effect before anyone knows. Other cou tries will soon join.

there is a big hype going on starting from the day bitcoin was created but was intensified 10 times last year and as all these shitty ICOs raised a lot of money out of thin air and become rich by scamming people. now everyone wants to be a part of the blockchain technology revolution. from random individuals on the internet to the government and the banks.
El Petro in Venezuela raised a lot of money and the government is so happy about it so it is only logical to see others follow in their footsteps now.

hopefully this trend ends soon so we can get back to what really matters: creating a decentralized currency not fill-our-pocket-useless-token.

this is a good development even though the current bitcoin condition is very unfavorable, imagine if it comes out along with a fairly stable bitcoin condition, it might be able to raise a bit of its value. but the Thai government must strive to make this decision not stop in the middle of the road

If this can be usage in real process then they will benefits coming out from the chain, its really important that they fully understand how well and how easy to adopt the chain, and use it according to their needs, we do hope that more country will begin to understand and explore then we will see improvements from this field, crypto really intent to help and not just to benefits from new users, we should continue supporting those who take step choosing to use the blockchain and help the society.

So its like Gold converting to Fiat.. But this time it would be Fiat converted to Digital Currencies. 1:1 ratio.. This mean easy to Trade Forex soon.

Well, it is great news that Thailand is going issue their own electronic money. It proves that Thailand has gone one more steps towards the digital world. I hope it will make the country more economically strong and stable.

A lot of countries are doing this. This is certainly a breakthrough for these countries. Embracing blockchain technology is good for a country. It only means thailand is up for advancement of technology. This will only promote blockchain to the people of thailand. The more they getbto know crypto the more wide our market will be which will be good for everyone.

Thank you for sharing! I didn't know that and it is very interesting! Hope it will help to popularize cryptocurrencies.

Indochinese people are by far the largest contenders of ICO bounties and airdrops. Don't take this personal but usually they are a bit short on intelligence. But half of them can't even understand what you wrote.

Its a good move by thailand government. hope we can see lot more this type of things in future. but i doubt the demand for bitcoin will reduce by this type of things. Anyway its a positive thing for overall crypto space

Yes I think the bank of Thailand is right. The digital currency and blockchain technology has made the transaction so fast and easy. I think its high time that the mainstream bank too adopt this technology.   

Stolen account. Airflame acocunt have been stolen look out !

Dont trade, talk or make some kind of business to this cunt.

More info here:
https://bitcointalk.org/index.php?topic=2347562.msg23913134#msg23913134

Indeed. As long as more country trying to adopt this innovation in blockchain as a medium of trading, it will open the mind of others and get their attention to also join the crypto world.

I conceive Thailand does not maintenance this force. I conceive Thailand's ten-strike assets is of elfin duration. Because Thailand's have agriculture is not exemplar. It is not like Japan.

The Bank of Thailand’s governor said in a speech yesterday that the Bank of Thailand is considering issuing its own electronic money, which is undoubtedly good news, which proves that the practicality of blockchain technology that has been recognized by more and more countries has begun. Accepted and applied, it also greatly promoted the development of the cryptocurrency market, bringing evangelism to cryptocurrency investors.

I wonder if the people will flock to the Thiland currency or a coin like Bitcoin not owned by any of these governments that seems so keep on oppressing and killing us.  I really hope the people of the world reject government crypto. 

Who knows what happened to Venezuela's national crypto currency - Petro? Global financial institutions have not given it the opportunity to develop and now nobody even remembers it. The same fate awaits any other national crypto currency, including Thai, if one will created!

Yet another wonderful news ,we need that a lot in crypto world ,gradually and steadily cryptocurrency will take the lead over fiat ,if a country like Thailand can take this step then sooner or later ,others will joins.

Thailand is an open country, and this is very good news.
My view point is Thailand government really know to do business, this change mean they support cryptos, that can attract the cryptos people from the cryptos-unfriendly countries to go there.

Oh that's good project. They have a big vision. Why do our country have this vision? Thailand want to become a better country. They will complete their road map. Maybe they want to be a leader of ASEAN.

If that is the truth then it is a good news for the people of THAILAN, that is a progressive country, I hope that one day not far from all the countries in the world will accept electronic money.

It is good to read the news like this. Crypto is slowly gaining national attention and it will be something that will help Crypto grow in the future

If that happens then it will be progress for Thailand in terms of e-commerce.
Because as far as I know, Thailand is a developed country in Southeast Asia than any other country.

That e-currency created in thailand, will it also implement the blockchain technology, or it will just using regular electronic transaction system just like what already going all this time, like sending or paying any transaction using ATM or Credit Card?

Forward thinking economies will always consider working smart! Its a good dream!! The had a partnership with Omisego sometime in 2017,  maybe it was for this same reason! I hope this motivates other countries that are yet to reason in this direction. This actions would only add more credibility to cryptocurrencies!

Thailand saw that Crypto does have potential and they take advantage of it. It's certainly been good for the economy of Thailand and is good as a form of support is also against crypto. When this immediately realized then surely Thailand is one level more advanced in terms of technology and economy.

In terms of developed, yes indeed Thailand have a good and well developed place from Southeast asian nation, if they will fulfill this it can be as useful as it is from tourism and payment processing, it will also bring another lift if more countries like them will fully adopt the system and use it in a daily process, crypto will have a wide supports and gained bigger value.

This is not a surprising news. More countries will issue their own coins in the future. The value of a coin issued by a country is related to the economic strength of its country.

I believe that every country in the world is researching and architecting blockchain technology. But all of these things are quietly carried out, and no one will stand up and express it clearly. But I believe that we will see more official news in the future, which is the trend of human development. We now need to wait for the perfection of the system

If this can become a reality, then I think this may push the market again, because there will be more people in Thailand who are concerned about the cryptocurrency market!

This is how it is going to be in the future if you ask me, all of the nations would have their own cryptocurrency that they would use as their official currency just like they have with cash right now. I would not be surprised if they create their own coins, it is only a matter of time before everyone goes cryptos and the early adopters would have the strongest coins

Its like someone read my mind and said the exact words before I could.
Its a good news in a lot of ways. I don't think the paper Baht will lose its value in any way. It will still continue to rule a majority of industries but even if digital currency is slow it still is progressive and a lot of nations will soon follow.

wait, do they mixed up electronic currency with crypto?  ???

If they launch their own cryptocurrency then it would be a big win for the entire crypto industry since things like this will help to convince people that cryptos are not scams like they think it is. There is so much potential for the coins and I think that the countries that are adopting them now will end up having the strongest currencies when the world goes full crypto

Thats a great news but i think there will be lot of paperwork that needs to be done to put blockchain under governments and even then only some of the coins will be under their rule and the rest will continue to florish on their own. Which is a good thing actually.

Only limited for their own coins but atleast they do make use of blockchain technology on such adoption but it doesn't mean it will completely affect the entire market of crypto.This is indeed a good news but not literally make an affect to the market.It wont really be a surprising thing for such country to make decisions because if they would see any benefits towards it then high chances that they would consider it.

In addition to Thailand, this issue is considered by many countries and I am sure that after the release of their own national cryptocurrencies, the capitalization of cryptocurrencies will increase and prices accordingly.So looking forward to how this implementation will make Thailand.In general, the issue of issuing a national cryptocurrency is very relevant. Now, many countries are imposed with sanctions and it seems to me that it will be possible to get around these sanctions by using the national cryptocurrency.