The Pheu Thai Party is developing its own digital wallet in the form of a utility token, which is not a new currency, but rather a digital representation of the baht.
The Pheu Thai Party-led coalition government believes its flagship policy, the 10,000-baht digital currency handout, will unleash an “economic tsunami” of consumption, benefiting many sectors of the economy.
The party also claims using blockchain technology for the measure will help address income inequality and accelerate the growth of the digital economy.
The economic committee of the Pheu Thai Party finally revealed the scheme’s plans.
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