Results 1 to 4 of 4
  1. #1
    Thailand Expat misskit's Avatar
    Join Date
    Dec 2009
    Last Online
    @
    Location
    Chiang Mai
    Posts
    28,981

    BoT to issue digital currency

    BANGKOK, 26th August 2018 (NNT) Ė The Bank of Thailand (BoT) is to issue its own digital currency for use in domestic wholesale funds transfers.

    The currency is expected to be built on an open source blockchain, said BoT Governor Veerathai Santiprabhob, who cited demand for faster transactions across banking networks.

    He said, like other central banks, the BoTís goal is not to immediately bring its digital currency into use but rather to explore its potential and implications for back office operations, hoping that these efforts would pave the way for faster and cheaper transactions and validations due to a process of less intermediation, compared to the current system.

    The digital currency will be named Central Bank Digital Currency (CBDD) and is being created on the open source digital ledger platform called Corda which was developed by a banking partner R3.

    R3ís Corda platform is designed to increase efficiency for financial firms by removing intermediaries.

    Veerathai added the BoTís efforts are part of a wider program of private and public sector applications currently underway in the country. Fourteen of the countryís banks operating in conjunction with seven leading businesses and state-owned enterprises are expected to introduce a production-ready project to offer blockchain-based letters of guarantee in the second half of the year.


    National News Bureau Of Thailand | BoT to issue digital currency

  2. #2
    Thailand Expat

    Join Date
    Mar 2015
    Last Online
    @
    Posts
    15,841
    Oh my Lord.



    Quote Originally Posted by misskit View Post
    offer blockchain-based letters of guarantee
    Oh my God. Playing to the suckers.


    Quote Originally Posted by misskit View Post
    BoT Governor Veerathai Santiprabhob, who cited demand for faster transactions across banking networks.
    Ummm, why not just get with the real world and allow proper, proven, online banking? And you think it's fatser to go crypto?

    This thing reeks.

    Lulu and Earl amay be interested in buying.

  3. #3
    Custom user
    Neverna's Avatar
    Join Date
    Mar 2012
    Last Online
    @
    Location
    Behind a rhododendron bush
    Posts
    17,126
    Quote Originally Posted by misskit View Post
    The digital currency will be named Central Bank Digital Currency (CBDD)
    CBDD? Really?

    If they can't even get the acronym right, what chance a digital "Durrency"?

  4. #4
    Thailand Expat raycarey's Avatar
    Join Date
    Jan 2006
    Last Online
    @
    Posts
    13,028
    one day, people will look back and say, "this is when it started to all fall apart".

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •