The Thai government plans to provide a 10,000 baht stipend through a digital wallet in order to streamline public services and boost the economy. The government is initiating a digital wallet program that will serve as a one-stop platform for accessing various state-sponsored services, such as driving license information, the 30-baht universal healthcare service, and state welfare programs. The Ministry of Finance has instructed the Government Financial Institutions Association to develop a blockchain-based system for the digital wallet application. This program aims to stimulate economic circulation and improve service efficiency.
Both tax-registered and non-tax-registered shops will be able to participate in the digital wallet program. While tax-registered entities will have access to money transfers, non-registered street vendors and floating markets will not be able to exchange digital money for Thai Baht directly.
However, they can still utilize the digital money to purchase raw materials from tax-registered shops, thereby keeping the funds within the economic system. The government is also working on a comprehensive resolution to ensure continuous economic circulation beyond the initial six-month period.
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SOURCE: thailand-business-news.com
