Thailand trials central bank cryptocurrency

posted about 1 year ago
Bank of Thailand's governor Veerathai Santiprabhob indicated in a recent speech that developing a wholesale central bank digital currency is currently in the pipeline as part of the country's wider efforts in trialing blockchain technology in various sectors.

The project, named Inthanon, sharing the name of Thailand's tallest mountain, seeks to create the bank's own blockchain based cryptocurrency to make interbank transactions both faster and cheaper.

He said in the speech:

"These efforts should pave the way for faster and cheaper transaction and validation due to less intermediation needed compared to the current systems."
Tags: blockchain, news