Thailand has become the latest country to embrace Blockchain technology and its advantages in creating efficiency, security and economic strength. The country’s Finance Ministry announced it will be implementing Blockchain in government administrative processes.
Previously implemented digitization efforts, such as the National e-Payment system and welfare card schemes, have been highly successful in steering the country towards its Thailand 4.0 goals in accordance with government policies. The government is therefore reinforcing its position of introducing digital technology to local communities by embracing decentralized technology.
This is a welcome sight for an important developing country in the APAC region and it will be interesting to see if Thailand can surpass some of its neighbors in further decentralizing government and social functions for the benefit of citizens.