Condition for Using Digital Money Changed from Distance to Area

[snoop1130]

 

BANGKOK, Oct 18 (TNA) – Deputy Finance Minister has disclosed no conclusive decision on the Digital Wallet project has been reached but the condition for using digital money within a 4-kilometer radius has been changed.

 

After a joint meeting with Deputy Finance Minister Julapun Amornvivat, Deputy Chairman of Commission on Monetary, Finance, Banking and Financial Institutions Wiraphop Viriyaroj said that the project is still under review by the government-appointed subcommittee.

 

Regarding the conditions for using digital money within a 4-kilometer radius, the deputy minister clarified that the 4-kilometer condition did not include in the Digital Wallet steering subcommittee’s discussion, but they were now considering the new condition which could involve specifying areas at the sub-district, district, or provincial level instead of the 4- kilometer distance.

 

Full story: Thai News Agency 2023-10-18

 

- 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

[Bobthegimp]

Welcome to the digital gulag.  Do what you're told.  You will eat the bugs 🐛, own nothing, and be happy. 

[OneMoreFarang]

As expected, nobody thought this through.

Let's promise cash to our voters and let's sort out all these little details later.

What could possibly go wrong? 

[hydraides]

1 hour ago, OneMoreFarang said:

As expected, nobody thought this through.

Let's promise cash to our voters and let's sort out all these little details later.

What could possibly go wrong? 

I think they did think this through alot........susprised how little resistance this disgusting scheme is getting

 

Wish we could see more academics and economists coming out saying what a terrible idea it is.

[soi3eddie]

31 minutes ago, hydraides said:

I think they did think this through alot........susprised how little resistance this disgusting scheme is getting

Free money that's why. It's a clever ruse to control the people and get them to comply with digital ID and digital money.

 

[connda]

"Legal" vote buying.  Call it what it is. 

Illegal:  Hand a voter 500 THB before they go to the poll.
Legal:  Promise to give a voter 10,000 THB using government funds if you vote them into office.

What concerns me is the moral relativity.  Btw, the 10,000 THB scheme grift initiative is going to give birth to a whole new generation of nouveau riche billionaires as they refine the digital shell game and give special retailer status to connected "essential businesses."  Watch. 

[hotchilli]

10 hours ago, snoop1130 said:

Regarding the conditions for using digital money within a 4-kilometer radius, the deputy minister clarified that the 4-kilometer condition did not include in the Digital Wallet steering subcommittee’s discussion, but they were now considering the new condition which could involve specifying areas at the sub-district, district, or provincial level instead of the 4- kilometer distance.

Buffoons all of them.

[khunjeff]

They continue to ignore the reality that millions of Thais don't live anywhere near their registered address. A worker in Bangkok or Phuket will only be able to spend their Khon Kaen or Udorn money during their twice-yearly trips "home", which doesn't make much sense.

[metisdead]

An off topic post contravening our Community Standards has been removed.

[bamnutsak]

They appear to be "Winging it" on this Digital Wallet scheme.

 

Makes sense, they only came up with it a month before the election.

 

You'd think they'd have had some savvy team working on the implementation since then, but no, of course they haven't.

 

This one will get ugly, and stay ugly.

 

Srettha, and others involved, should make sure he has some sort of legal guarantees/indemnification re: future prosecution.

 

I can see this thing being litigated for a few decades going forward. Although I expect some judicial interference prior to implementation.

 

 

[wuffe]

Anyone who thinks this whole idea originates from Thailand need to read up on things like Central Bank of Digital Currencies, WEF, Project2030, Smart Contracts etc.

[dinsdale]

13 hours ago, snoop1130 said:

sub-district, district, or provincial level instead of the 4- kilometer distance.

It has to be provincial. If it turns out they go with sub-district for many this will be pretty much the same as 4km. 

[kingstonkid]

7 hours ago, connda said:

"Legal" vote buying.  Call it what it is. 

Illegal:  Hand a voter 500 THB before they go to the poll.
Legal:  Promise to give a voter 10,000 THB using government funds if you vote them into office.

What concerns me is the moral relativity.  Btw, the 10,000 THB scheme grift initiative is going to give birth to a whole new generation of nouveau riche billionaires as they refine the digital shell game and give special retailer status to connected "essential businesses."  Watch. 

The same people will get rich as always the big 5 Thai families will eventually gt all the money.

 

You are correct, and I will not be surprised if one of the serial whistle-blowers does not put that into action close to the action date.

 

Then again, stopping people from getting a handout is not a smart thing to do.  Almsot like taking a bone with meat on it from a German shepherd.

 

There are so many areas that they could allow people to legally spend the money.  

 

School supplies uiforms tuition.

University payments.

 

These would help the families 

 

On the flip side imagine someone going shopping at TOPS for the weekly groceries.  Sorry Mrs Sonchai but I have to rng in your groceries as 2 separate orders because some of the groceries are covered under the 10k and some are not. 

 

How many teens do you think are going to want to buy food?  They will make deals with friends mom dad or somebody.  

 

 

1 hour ago, khunjeff said:

They continue to ignore the reality that millions of Thais don't live anywhere near their registered address. A worker in Bangkok or Phuket will only be able to spend their Khon Kaen or Udorn money during their twice-yearly trips "home", which doesn't make much sense.

Watch families will buy cheap throw-away phones load their wallets on them and leave them with their parents or family.

 

We hve a few extra phones and that is what the GF is doing.  Give the phone to her brother along with the pin code and she has hen done her bit to look after the family.

[Sharp]

The wider the better SMART CITIES will quite the opposite avoid at all costs 

[Sharp]

25 minutes ago, wuffe said:

Anyone who thinks this whole idea originates from Thailand need to read up on things like Central Bank of Digital Currencies, WEF, Project2030, Smart Contracts etc.

🎯

[huangnon]

28 minutes ago, wuffe said:

Anyone who thinks this whole idea originates from Thailand need to read up on things like Central Bank of Digital Currencies, WEF, Project2030, Smart Contracts etc.

Yep, let's you know who is backing this Govt. Digital "money" that can only be spent near to your home; has an expiry date, and can only be used at mega-corporation outlets. Your "carbon credits" assessed as you spend, etc.

It's basically using your supposed wealth and assets against you.

[brianthainess]

The 4k rule was ridicules  in the first place, there are people living past me about 5klm from the nearest shop.

10k will be spent on anything they want, with the help of store owners and friends, just a scam waiting to happen. 

sell me 9 1k bottles of whiskey charge me 10k will not be a problem. 

[Bangkok Barry]

They haven't made it complicated enough yet so they are already changing the rules before it's even implemented. If it was simple - here's the money. spend it how and where you like - is un-Thai. There has to be be a long list of cans and cannots to ensure Thainess.

[Dogmatix]

2 hours ago, dinsdale said:

It has to be provincial. If it turns out they go with sub-district for many this will be pretty much the same as 4km. 

Why not make it national for convenience of Thai migrant workers in cities.

[Dogmatix]

27 minutes ago, brianthainess said:

The 4k rule was ridicules  in the first place, there are people living past me about 5klm from the nearest shop.

10k will be spent on anything they want, with the help of store owners and friends, just a scam waiting to happen. 

sell me 9 1k bottles of whiskey charge me 10k will not be a problem. 

Clearly.  Loan sharks will get on this offering advance cash of 5,000 now for your digital wallet in February. If store owners can't wangle selling whisky, trade 10,000 worth of soap powder, pampers, milk etc for 7,000 baht worth of whisky with a neighbour.

[dinsdale]

3 hours ago, Dogmatix said:

Why not make it national for convenience of Thai migrant workers in cities.

ATM cards aren't even national without being charged a inter-provincial fee. You do, however, raise a valid point. Thailand is a country where a large % of the population works/lives outside of their home province.

[digbeth]

they sure as hell don't have the coordinate of all known address on file 

[John Drake]

The 10,000 baht will never be allowed to be cashed out. It will remain in the digital financial ecosystem circulating forever. The effect is to narrow choices to a few national chains operating across the country. Think 7-Eleven.