Thailand and world prepare for cryptocurrency challenges

[Jonathan Fairfield]

Thailand and world prepare for cryptocurrency challenges

 

 

The Libra project has shaken the global financial scene since Facebook, with a group of founding members, announced the proposed cryptocurrency last month.

 

The plan to launch a new currency next year is ambitious and controversial, as Libra is scrutinized by central banks around the globe, including the US Federal Reserve.

 

The cryptocurrency concept is not far-fetched, as evidenced by the success of Bitcoin. It is a result of an evolving monetary system, which is moving toward digital payment systems backed by blockchain technology.

 

Thailand is moving toward a cashless society. Bank notes and coins are set to become obsolete while transactions via electronic payments have increased over recent years.

 

Full story: https://www.thaipbsworld.com/thailand-and-world-prepare-for-cryptocurrency-challenges/

 

-- © Copyright Thai PBS 2019-07-16

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[RotMahKid]

I see it only a way for criminals to whitewash their money and you know exactly when to are going to cash it.

[wgdanson]

2 hours ago, Jonathan Fairfield said:

Thailand is moving toward a cashless society. Bank notes and coins are set to become obsolete

Not in my lifetime. Never.

Will the girls down Soi 6 or W Street have a portable terminal?  555

[phycokiller]

4 hours ago, wgdanson said:

Not in my lifetime. Never.

Will the girls down Soi 6 or W Street have a portable terminal?  555

they already do. its called a phone

[phycokiller]

 

4 hours ago, RotMahKid said:

I see it only a way for criminals to whitewash their money and you know exactly when to are going to cash it.

when?

[wgdanson]

19 minutes ago, phycokiller said:

they already do. its called a phone

yes, but where do you swipe your card?     LOL

[userabcd]

16 hours ago, RotMahKid said:

I see it only a way for criminals to whitewash their money and you know exactly when to are going to cash it.

It's been happening for decades using existing national currencies based on debt, particularly the USD.

[userabcd]

16 hours ago, RotMahKid said:

I see it only a way for criminals to whitewash their money and you know exactly when to are going to cash it.

Can't see this happening, you can bet it is going to scrutinised, implemented and monitored closely by Facebook, law enforcement and revenue authorities.

[phycokiller]

17 hours ago, wgdanson said:

yes, but where do you swipe your card?     LOL

where ever the girl wants