The Central Bank of Thailand is exploring the option of digitizing its national currency Thai Baht. The Central Bank is looking at smart contracts and DeFI for its implementation and the process could soon be wrapped up soon. As per Vijak Sethaput, Senior Developer at Bank of Thailand, the digital currency project named Intanon was already in process with the CBDC.
Sethaput, revealing the details during a global meet at the Official Monetary and Financial Institutions Forum, informed that the central bank is keeping track of recent developments in the DeFi industry at the same time looking to explore its own version which would suit as per Thailand’s needs. For that, customer identification and privacy are the two main issues around decentralized finance
The Central Bank of Thailand is exploring the option of digitizing its national currency Thai Baht. The Central Bank is looking at smart contracts and DeFI for its implementation and the process could soon be wrapped up soon. As per Vijak Sethaput, Senior Developer at Bank of Thailand, the digital currency project named Intanon was already in process with the CBDC.
Sethaput, revealing the details during a global meet at the Official Monetary and Financial Institutions Forum, informed that the central bank is keeping track of recent developments in the DeFi industry at the same time looking to explore its own version which would suit as per Thailand’s needs. For that, customer identification and privacy are the two main issues around decentralized finance that Sethaput reckons the Central Bank has to solve.
Continue read: https://www.thecoinrepublic.com/2020/08/16/thailands-central-bank-considering-defi-use-for-digital-baht/
