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  1. #1
    Thailand Expat misskit's Avatar
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    BoT governor opens Blockchain the Series

    BANGKOK, 30 May 2019 (NNT) -Over 150 billion baht in venture capital has been invested in the blockchain business worldwide last year, signifying the increased role of blockchain technology. Blockchain Community Initiative Co. issued the world’s first electronic letters of guarantee in the third quarter last year and plans to increase the number of electronic letters of guarantee by 50% in three years. Blockchain Community Initiative Thailand, provides electronic letters of guarantee for 22 financial institutions.


    Bank of Thailand Governor Virathai Santipraphop said today the blockchain system uses high technology to efficiently develop businesses as well as the financial sector. Last year, about 150 billion baht in venture capital was invested worldwide, thus prompting the financial sector to focus on it.


    The Bank of Thailand has used blockchain in developing its trading system for government bonds which can be run promptly and save on operating costs. It can run interbank payments while BCI Co. can issue electronic letters of guarantee, thus replacing over the counter business and curtailing repetitions and errors in doing business.


    Thai Bankers Association President, Pridi Dachai says BCI Co. was set up for partners to join hands to do business, develop technology and create innovation for the first time in the world. The first electronic letters of guarantee were issued via blockchain in the third quarter last year. The number of electronic letters of guarantee was planned to increase 50% in three years. Over 500,000 letters of guarantee have been issued, amounting to over 1.35 billion baht in combined value, in a year. The blockchain system is highly stable, secure and makes it difficult for hackers to tamper with networked data which can be stored, disseminated and remain available for analytical uses.

    National News Bureau Of Thailand

  2. #2
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    Quote Originally Posted by misskit View Post
    The Bank of Thailand has used blockchain in developing its trading system for government bonds
    Cool, as they have an actual value and standard, not like fraudulent pyramid scheme cryptocurrency.

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    Quote Originally Posted by Maanaam View Post
    Cool, as they have an actual value and standard, not like fraudulent pyramid scheme cryptocurrency.
    YEp, its only going to be a matter of time before Govt regulate, said it on BITCOIN thread - it is the future just not in the hands of unregulated crooks

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    Quote Originally Posted by NamPikToot View Post
    Govt regulate,
    Quote Originally Posted by NamPikToot View Post
    unregulated crooks
    Though I essentially agree with you, I can't help but point out the contradiction .

  5. #5
    disturbance in the Turnip baldrick's Avatar
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    have they re invented the excel spreadsheet ?

    I think they may have missed the decentralised and trustless bit

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    ^Are you sure you understood the OP? They're not talking about cryptocurrency, but blockchain technology for trading government bonds.

  7. #7
    disturbance in the Turnip baldrick's Avatar
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    Quote Originally Posted by Maanaam View Post
    ^Are you sure you understood the OP?
    of course - but all they are proposing is centralised and I am sure they will be the ones to control it - just another database

    the reall innovation with blockchains is they are decentralised and trustless and no one entity has the power to change information - hence trustless

  8. #8
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    Quote Originally Posted by baldrick View Post
    have they re invented the excel spreadsheet ?

    I think they may have missed the decentralised and trustless bit
    yep, they are using it as some complex identificaton string with terns of the bonds codified in that string

    like I have been saying, it's a technology that has no merit or no use in its simplest form as well in its more complex expression in scam coins

  9. #9
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    Quote Originally Posted by baldrick View Post
    of course - but all they are proposing is centralised and I am sure they will be the ones to control it - just another database

    the reall innovation with blockchains is they are decentralised and trustless and no one entity has the power to change information - hence trustless
    why would you want to use a trustless system??? allo earth???

  10. #10
    disturbance in the Turnip baldrick's Avatar
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    Quote Originally Posted by Dragonfly View Post
    why would you want to use a trustless system??? allo earth???
    because you are a cretin - a trustless system does not require a centralized rentseeking controlling interfering underhanded sly untrustworthy insidertrading intermediary

    this is the central tenet of a fcuking blockchain

    bitcoin solved the byzantine general problem - that is why is is so fcuking cool

  11. #11
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    Quote Originally Posted by baldrick View Post
    because you are a cretin - a trustless system does not require a centralized rentseeking controlling interfering underhanded sly untrustworthy insidertrading intermediary

    this is the central tenet of a fcuking blockchain

    bitcoin solved the byzantine general problem - that is why is is so fcuking cool
    no it isn't, and why you loons are seeing castles in the sky

    the portability of a currency is based on its instrinsic value (Gold) or trust (sovereign might)

    bitcoin has neither

  12. #12
    disturbance in the Turnip baldrick's Avatar
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    Quote Originally Posted by Dragonfly View Post
    or trust
    no , which is why you remain a fluffer

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    again if you guys had a formal education, or understood the history of currencies since the pre-historical times, you would understand that human behavior is central to the value of a coin, not algos designed by fraudsters and loons

    why are you Australians obsessed with currency trading anyhow? is it cultural or genetic from the bad pool of genes you got from your ancestors?

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    Quote Originally Posted by baldrick View Post
    no , which is why you remain a fluffer
    you can say "no" all you want, doesn't mean it's more real

    like "the sky is blue, and the grass is green" and in your little deranged world, it's not

    next you are going to tell us that the earth is flat because some bitcoins algos told you so

  15. #15
    disturbance in the Turnip baldrick's Avatar
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    when you grasp your forelock you dislodge your cum soaked hairpiece

    it is about not allowing your bukake masters to have control - which is why they whine when ejaculating on your face

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    again, Aussie plumber boy, you are missing the point. I understand what bitcoins is trying to achieve, but it's not achieving it because it's using the wrong approach.

    Lets say you build a rocket in paper and wood to go to the moon, and it doesn't take off, but you argue about what that rocket is going to accomplish, it's great, but guess what, it's not taking off and never will.

    You simply can't accept that because you have the education of a tribe savage and think miracles happen if you simply believe in impossible things

    have you been diagnosed with Autism or Asperger?

  17. #17
    disturbance in the Turnip baldrick's Avatar
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    fluffer , until such a time that permissionless blockchains do not work you have no case

    you hade best get back to sucking boiler room boy cock

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    Quote Originally Posted by Dragonfly View Post
    the portability of a currency is based on its instrinsic value (Gold) or trust (sovereign might)

    bitcoin has neither
    Right, but we're not talking about cryptocurrency here, we're talking about government bonds (sovereign might, using your term) stored and traded using blockchain technology.
    The OP has nothing to do with bitcoins.

    BTW, "intrinsic value" isn't neccessarily based on gold. It can be food stamps, bottles of water, cigarettes or instant noodles (prison currency), fishhooks, whatever is valuable at the time and place.

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    disturbance in the Turnip baldrick's Avatar
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    taking the previous block and using computational power to prove the hash for the next block before anyone else

    you are all talking

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    Quote Originally Posted by Dragonfly View Post
    like "the sky is blue, and the grass is green" and in your little deranged world, it's not
    Actually interrupting you ladies, grass ain't green and the sky ain't blue. Sorry, had a Cyrille moment there.

  21. #21
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    Quote Originally Posted by baldrick View Post
    taking the previous block and using computational power to prove the hash for the next block before anyone else

    you are all talking
    and indeed you are talking shit, because there is no value in doing this, you think it does, because that's what you want to believe, like all the crypto nutters out there

  22. #22
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    Quote Originally Posted by baldrick View Post
    fluffer , until such a time that permissionless blockchains do not work you have no case

    you hade best get back to sucking boiler room boy cock
    but it doesn't work, that's the point. It doesn't deliver on any of the promises, except wasting CPU power

    reminds me of the Soviets and the Maoists with their economic myths and new theories

    how did that work out at the end?

    Crypto anarchists are the new politburo of Soviet style Communism

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    without decrypting, can you identify the encryption type i.e its block chain

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