Thailand Confirms $14.3B Digital Wallet Scheme Despite Potential Delay

• Up to 50 million Thai citizens will receive the payments through a mobile app.
• Though delays may occur, Thailand will proceed with the planned digital wallet scheme.
• Whether blockchain technology will facilitate the digital wallet scheme remains to be determined.

Thailand Prime Minister Srettha Thavisin has reaffirmed his government’s commitment to the ambitious $14.3 billion digital wallet handout scheme despite acknowledging the possibility of a delay in its implementation.

According to local reports, the Thai Prime Minister confirmed the potential disbursement delay in a press conference on Friday. Notably, the digital wallet program seeks to stimulate the country’s sluggish economy, covering 50 million people. Each is expected to receive 10,000 in local baht, equivalent to $280.

The 50 million Thai citizens will receive the payments through a mobile app. However, it is yet to be disclosed whether blockchain technology, such as CBDCs or cryptocurrencies, would facilitate the digital wallet cash dole. Besides, the country has proven its welcoming approach to digital assets, with prominent platforms like Binance securing clearance to operate.

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