“Utility Tokens” to be used for “digital wallet” scheme

[snoop1130]

 

The Pheu Thai-led government will consult the Bank of Thailand over the proposed use of the Utility Token Type 1 as a means of payment for the Pheu Thai party’s “digital wallet” scheme.

 

An informed source in the party said that it is now obvious that utility tokens, which are used to access a particular product or service within a blockchain-based ecosystem, are likely to be used as a means of payment for the “digital wallet” scheme. Since such tokens are not accepted by the central bank as a legal means of payment for goods or services, certain restrictions stipulated in the Digital Assets Executive Decree will have to be amended.

 

The source pointed out that there is no need enact a new law, just an announcement from the Securities and Exchange Commission (SEC) will suffice.

 

Full Story: https://www.thaipbsworld.com/utility-tokens-to-be-used-for-digital-wallet-scheme/

 

-- Thai PBS 2023-08-30

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

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[bradiston]

13 hours ago, snoop1130 said:

 

The Pheu Thai-led government will consult the Bank of Thailand over the proposed use of the Utility Token Type 1 as a means of payment for the Pheu Thai party’s “digital wallet” scheme.

 

An informed source in the party said that it is now obvious that utility tokens, which are used to access a particular product or service within a blockchain-based ecosystem, are likely to be used as a means of payment for the “digital wallet” scheme. Since such tokens are not accepted by the central bank as a legal means of payment for goods or services, certain restrictions stipulated in the Digital Assets Executive Decree will have to be amended.

 

The source pointed out that there is no need enact a new law, just an announcement from the Securities and Exchange Commission (SEC) will suffice.

 

Full Story: https://www.thaipbsworld.com/utility-tokens-to-be-used-for-digital-wallet-scheme/

 

-- Thai PBS 2023-08-30

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Get our Daily Newsletter - Click HERE to subscribe

Cue the scrapping of the whole scheme along the lines of the 300 THB landing fee at Thai airports, for want of thinking the whole thing through and not just dangling it there as a vote buyer. PT should be mauled and hauled up in front of the EC for vote buying. It was never anything more than that and now they're left with egg all over their faces when it comes to the deadline for coughing up. They don't have the funds and they wouldn't know how to deliver it in any case.

 

I give this ship of fools (stultifera navis) 3 months.

Edited August 30, 2023 by bradiston

[kingstonkid]

What is a 16 year old girl or boy want with rice or paying a water or utility bill.

 

The girls want make up an clothes the boys want Gundam and high end motorcycle parts.

 

The fact that Thai's who are under massive debt can't use it to pay off loans is rediculous

 

The other thing they are not saying is will this be tax exempt.

 

Anyone remember the buy a new car scheme.

[DJ54]

Quasi buy our vote plan sounds like it will be complicated…. Many villages in the Norty Isaan are more than 4km from stores other than Mom and Pop shops… it worked until it didn’t