Thailand to Issue Its Own Cryptocurrency and Adopt Blockchain into Central Bank System
March 23, 2018
Thailand’s Central Bank announced its plans to use blockchain for protection and high-quality services. At that is was mentioned, recently adopted rules of cryptocurrency remain in effect.
The Bank's Governor Veerathai Santiprabhob spoke of his plans for implementing blockchain into interbank payment system and uncovered some details on the state cryptocurrency project Inthanon.
When speaking on the future digital currency, Santiprabhob explained, it is aimed at improving interbank transaction control in fiat as well as cooperation between the regulator and other central banks.
Santiprabhob added, it is all about cross-border platform:
“More than five financial institutions, both local large and foreign banks, have shown interest in participating. With the massive transaction volume of such banks, the project would improve efficiency and the country’s ecosystem”.