BoT Is Developing Digital Currency

[rooster59]

BoT Is Developing Digital Currency

 

 

BANGKOK, Sept 18 (TNA) — The governor of the Bank of Thailand (BoT) has emphasized that the central bank is seriously developing a digital currency and a system for the exchange of transaction data to help small and medium enterprises (SMEs) and businesses easily access financial services.

During his speech in the Digital Transformation for the New Normal event, Veerathai Santiprabhob said that central banks worldwide placed importance on the Central Bank Digital Currency and BoT produced its prototype and was making progress in trying it for payments among local and foreign banks.

 

The trial also covered payments for bonds and the use of biometrics for people identifications. Besides, BoT was developing a financial service platform that would facilitate consumers’ access to financial services and go along with the global trend of platform economy, Mr Veerathai said.

 

Full story: https://tna.mcot.net/english-news-541686

 

-- © Copyright TNA 2020-09-19

 

- Whatever you're going through, the Samaritans are here for you

- Follow Thaivisa on LINE for breaking COVID-19 updates

[GeorgeCross]

BahtCoin!

[Jack Hna]

Press reports called it Digithai

[Poet]

11 minutes ago, Jack Hna said:

Press reports called it Digithai

The absolute morons have not even acquired the .com domain of the brand yet.

 

[jvs]

Will the website actually work?

 

[brain150]

The trial also covered payments for bonds and the use of biometrics for people identifications

 

This is the important part !!!

As soon as any digital currency comes from any central bank the words "privacy" and "freedom" can be

taken out of any language as they won't exist anymore.

[RichardColeman]

5 hours ago, GeorgeCross said:

BahtCoin!

Yes, and you can bet to be number 1 in the virtual currently world they will price it at something daft like 10 million bit coins to 1 bahtcoin

[ukrules]

If they do this right and allow anyone to use it freely (which I doubt they will) then it could be massive and used around the world.

 

I've always thought that the first central bank to launch an unrestricted digital currency will be a long term winner.

[digger70]

9 hours ago, rooster59 said:

BoT Is Developing Digital Currency

Yea right, No more real money ,just floating Keyboard  made money.

They are going to make Billions  without any  money trace. It's a Claytons Money : 

 

  Digital currency is a form of currency that is available only in digital or electronic form, and not in physical form. It is also called digital money, electronic money, electronic currency, or cyber cash.Jun 27, 2020

[Antonymous]

5 hours ago, brain150 said:

The trial also covered payments for bonds and the use of biometrics for people identifications

 

This is the important part !!!

As soon as any digital currency comes from any central bank the words "privacy" and "freedom" can be

taken out of any language as they won't exist anymore.

I’m waiting for the public health announcement that states that it is in the public interest to stop using paper money and coins and that the government is working around the clock to make it safer for citizens by introducing digital payments and banking for everything and everyone. I know that something along these lines is coming.

 

The shift to digital currency – a global initiative not just in Thailand of course – is the ultimate form of government control. If they can monitor and measure your income, savings and expenditure and they have control over your bank accounts, they can control your behavior. They can extract taxes or close access to your money at any time. They can impose penalties on a political whim.

 

While the governments and banks of the world are moving steadily towards this goal, the missing link that will strengthen their control and seal our fate as free individuals is 5G. With 5G and biometric ID and facial recognition will come far more data-harvesting and surveillance.

 

Big Brother is waiting in the wings. Meanwhile wufluzies will rejoice that they can download a video game in 5 seconds instead of 20, pay for it in even less time without risking infection and that a permanent record of their transaction will be held in safe-keeping by benevolent suppliers and government monitors.