Crypto firm expects Thai crypto market to grow by 500% in 3 years

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Crypto firm expects Thai crypto market to grow by 500% in 3 years

 

 

BANGKOK, 7 November 2018 (NNT) - A crypto fundraiser firm Icora has said that Thailand’s crypto asset market could reach the top five in Asia in three years, as the Thai market is expected to grow by over 500%.

Icora CEO Karndee Leopairote said investments in crypto assets have begun to pick up, following a slump at the beginning of the year. The Thai market currently trades around 100 million baht’s worth of cryptocurrencies per day. 

Karndee revealed that South Korea, Japan and Singapore currently receive the most attention from investors in Asia, while the Thai market currently ranks 10th by market capitalization. However, she expects the Thai market will expand by over 500% within the next few years to become one of the top five Asian markets for cryptocurrencies.

She added that Thailand’s crypto market is expected to receive a boost next year, as it is one of the first countries to allow fund raising using crypto assets, known as initial coin offerings (ICOs), which are becoming an attractive way to raise capital.

 

-- nnt 2018-11-07

[HappyAndRich]

That´s gonna create  an amazing pile of poor people, due to that most can´t put together 4 + 7 without a calculator. Now they are all going to invest in crypto currency. Horray!

[Black arab]

Trying to drum up buisness like any co.

[tinom]

The problem I see with s-e asians, is they use "123456" as password or their own phone number, and if any other, they forget it...
And if you loose your private keys, no one can help you to get them back and/or if you create a new account, your funds remain on your original wallet.
But sure crypto is going to Boooom!!!
Bitcoin, Litecoin, XRP and probably OmiseGo OMG which is already a payment system infrastructure.
Bullish!

[WorriedNoodle]

21 hours ago, HappyAndRich said:

That´s gonna create  an amazing pile of poor people, due to that most can´t put together 4 + 7 without a calculator.

I think that's how SE Asia has been since time began. I'm sure the CEO knows also.

[theguyfromanotherforum]

This news is like saying real estate board predicts 500% condo growth in 3 years

[Scottjouro]

On 11/8/2018 at 2:05 AM, WorriedNoodle said:

I think that's how SE Asia has been since time began. I'm sure the CEO knows also.

Thailand actually leads the way in some respects regarding crypto

 

1. One of the first countries to fully "legalise" 7 crypto's within a clear legal framework, streets ahead of the US in that regard.

2. Multiple Thai banks - SCB/SBI and Krungseri are utitising DLT via RippleNet

 

They are early adopters of the new technology...way ahead of the so called progressive western countries

 

Japan via SBI will become the first mass adopters of DLT tech, and become  major player 

 

[Ks45672]

5x in 3 years is a very Conservative estimate imo.... 

[Ks45672]

On 11/7/2018 at 11:21 PM, tinom said:

The problem I see with s-e asians, is they use "123456" as password or their own phone number, and if any other, they forget it...
And if you loose your private keys, no one can help you to get them back and/or if you create a new account, your funds remain on your original wallet.
But sure crypto is going to Boooom!!!
Bitcoin, Litecoin, XRP and probably OmiseGo OMG which is already a payment system infrastructure.
Bullish!

Not all Thais are like that lol

Plenty of them are smart enough to understand the advantages and cost saving benefits of cryptocurrency 

[Ks45672]

On 11/7/2018 at 11:21 PM, tinom said:

The problem I see with s-e asians, is they use "123456" as password or their own phone number, and if any other, they forget it...
And if you loose your private keys, no one can help you to get them back and/or if you create a new account, your funds remain on your original wallet.
But sure crypto is going to Boooom!!!
Bitcoin, Litecoin, XRP and probably OmiseGo OMG which is already a payment system infrastructure.
Bullish!

Not all Thais are like that lol

Plenty of them are smart enough to understand the advantages and cost saving benefits of cryptocurrency 

[ed strong]

https://www.reuters.com/article/us-thailand-renewables-tech/in-a-posh-bangkok-neighborhood-residents-trade-energy-with-blockchain-idUSKCN1LD0Z8

 

An actual use case for decentralized cryptocurrencies.

 

In fact there's an argument that energy could be used as money and we might even trade and use energy units for purchases in the future!

 

Already in parts of Africa and Philippines people trade 'mobile air time' for their phones.

I did this myself in rural philipines when i had no credit and this was simply a case of someone with credit sending me 300 peso of phone call credit in exchange for cash, brilliant!