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Title: Thailand Considers Introducing a Bitcoin-Based Payment System
Thailand’s former Prime Minister Thaksin Shinawatra has recently expressed his strong support for the adoption and application of cryptocurrencies, particularly Bitcoin (BTC). Despite the Bank of Thailand’s current stance on limiting the use of digital currencies for payment purposes, Thaksin believes that the country should follow international trends to stimulate economic growth.
Thaksin emphasizes the importance of aligning with global practices in order to achieve sustainable development. He suggests that issuing state-backed stablecoins could even provide liquidity to the economy. Notably, over 20% of Thailand’s population, which translates to around 15.4 million people, already engage with cryptocurrencies. According to forecasts by an analytics center, this number is expected to grow to 17.67 million individuals by 2028.
Thaksin predicts that in the future, more digital assets will be integrated into economic systems than fiat currencies exist. He believes that the trend is undeniable and the question now lies in whether the Thai government will follow international trends.
The Ministry of Finance has been tasked with reviewing Bitcoin’s suitability for everyday use, but tourism-based applications may precede daily usage. The uncertainty remains as to whether Bitcoin owners would be willing to spend their hard-earned savings on cryptocurrencies.
Sources:
Source: http://www.bitcoinbazis.hu
