Thailand’s New Govt. To Use Crypto Wallets and Blockchain for Cash Handouts to Citizens

The newly developed government of Thailand has decided to use crypto wallets and blockchain technology for the national airdrop. The elected Prime Minister of Thailand’s new government has kept his word to pay a big cash handout to the nationals of Thailand.

For the implementation, he has decided to give $280 to Thais employing blockchain technology and crypto wallets. On the 7th of September, it was reported that Pheu Thai, an elected political party will use advanced digital technology for the sake of the economic pledge made by the party before elections.  

Blockchain Drive in Thailand

Minute details were not disclosed but it was reported that 10,000 Thai baht worth $280 would be delivered to Thais through blockchain technology. The main reason for adopting blockchain technology lies in its security and reliability. Hence, the elected prime minister decided to adopt blockchain technology for the implementation of a massive handout so it could be completely traceable.

Implementation of the National AirDrop

It is disclosed yet that either cash handout will be carried out by any existing blockchain or the Thai government will customize blockchain for this task. This will get the amount in the registered wallet in their names. That wallet would be acceptable at all shops and businesses in an area of 4km from their residency.

Also Read: A Step-by-Step Guide On How to Buy Cryptocurrency With Credit Cards

Another purpose of opting for digital technology is to root out the differences created in the minds of people regarding the access to crypto industry. Recipients will simply have to install the digital wallet into their smartphones and they would be able to payout the received amount. Deputy Finance Minister of Thailand Julapun Amornvivat, announced that the digital currency handout policy would inject at least 2 trillion baht ($56 billion) aiming for a minimum 5% GDP growth in 2024.