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News Forum - Bank of Thailand plans real-world test of digital currency in 2022


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The Bank of Thailand recently announced plans to do some real-world testing of digital currency in the near future as the popularity of cryptocurrency continues to grow. They plan to test their Central Bank Digital Currency in a real-world environment sometime in the second quarter of 2022. The BOT has been studying the CBDC since 2018 and is aware that the future of Thailand’s digital currency would greatly benefit from its adoption, according to the Deputy Governor of the bank. As such, they plan on doing a limited real-world test of the CBDC in order to observe how it is […]

The story Bank of Thailand plans real-world test of digital currency in 2022 as seen on Thaiger News.

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Not good.

What happens if the governments around the world take away our cash and just issues CBDCs to us, we can see in China already.
You mention you do not like the tyranny of China? They block your wallet and you cannot pay anymore. They are doing this already with WeChat-Accounts widely being used in China for payment.

Or on Twitter/Facebook or many Online Forums. 
You post your unpopular opinion? You get banned.

The same will happen with these CBDCs. Not only privacy and control about our money will completely disappear, no, the governments in the world will use CBDCs to censor our freedom of speech. If you say something they don’t like, they just block your wallet. You cannot buy, you cannot sell anymore. „Better think next time before you criticize us!“

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5 minutes ago, HighSo said:

Not good.

What happens if the governments around the world take away our cash and just issues CBDCs to us, we can see in China already.
You mention you do not like the tyranny of China? They block your wallet and you cannot pay anymore. They are doing this already with WeChat-Accounts widely being used in China for payment.

Or on Twitter/Facebook or many Online Forums. 
You post your unpopular opinion? You get banned.

The same will happen with these CBDCs. Not only privacy and control about our money will completely disappear, no, the governments in the world will use CBDCs to censor our freedom of speech. If you say something they don’t like, they just block your wallet. You cannot buy, you cannot sell anymore. „Better think next time before you criticize us!“

China uses WeChat pay with a fallback to your bank. Singular. Whats blocked?

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Look the Thais are not that bright on Computers etc, look at the stuff ups they have with Covid, the shonks will be waiting for them to start up their version of digital currency and will take them to the cleaners.

 

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2 hours ago, Jason said:

"Monopoly Money"...roll the dice and take your chances. Be prepared to give up your sovereign currency....

Sovereign currency IS Monopoly money already.

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Their political system, legal, and financial system as I understand over the past 10 yrs of visiting Thailand, is not too much better than authoritarian governments, especially for wealthy foreigners! I would stay away. 

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4 hours ago, Thaiger said:

Bank of Thailand recently announced plans to do some real-world testing of digital currency

great stuff .. sounds like they want a megabyte of the cryptocherry then .. 

 

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16 hours ago, Thaiger said:

The Bank of Thailand recently announced plans to do some real-world testing of digital currency in the near future as the popularity of cryptocurrency continues to grow. They plan to test their Central Bank Digital Currency in a real-world environment sometime in the second quarter of 2022. The BOT has been studying the CBDC since 2018 and is aware that the future of Thailand’s digital currency would greatly benefit from its adoption, according to the Deputy Governor of the bank. As such, they plan on doing a limited real-world test of the CBDC in order to observe how it is […]

The story Bank of Thailand plans real-world test of digital currency in 2022 as seen on Thaiger News.

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Is the Thai government going to back cryptocurrency now or Banks can do all they want?

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46 minutes ago, HiuMak said:

Is the Thai government going to back cryptocurrency now or Banks can do all they want?

Take a look at the Thai banks biggest shareholder and you will know.

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It takes a country years just to set up a trade deal with another country for example, it is therefore not going to be possible for the world to agree on a single digital currency and lose the ownership and control of their own currency.

As far as I can see money is digital at the moment anyway as there are not dollars or Pound-sterling notes for every amount on a banks computer, it is mostly just numbers in files representing money.

Hardly anyone in the UK uses real bank notes, most people pay via online banking on an app or just tap their debit card, iPhone etc on a device when paying in shops.

I have about £100 in my wallet as backup but it has been there for twelve months, I use a debit card for everything.

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