Will Crypto Transform Expat Migration into Thailand?

[KhunHeineken]

4 hours ago, scottiejohn said:

What has that got to do with "Migration"? 

Well, geez, let see. 

 

Currently, most expats electronically transfer funds from their home country bank to their Thai bank using the bank's service, or companies like Wise etc.  Both charge a fee, and make some money on the exchange rate also. 

 

The central banks of both countries are also aware of the transfer. 

 

Picture a society where you can pay for everything in crypto.  You are paid in crypto in your home country, and you buy a beer or whatever with it in Thailand.  No more bank needed in your home country, and Bangkok Bank, Kasikorn etc etc not needed in Thailand.  You've cut out all the middlemen and saved some money, and if done in a certain way, private and untraceable.  

 

In summary, "migrants" will not have to pay bank fees and lose on exchange rates. 

[topt]

10 hours ago, KhunHeineken said:

and if done in a certain way, private and untraceable.  

Wonder how long that will continue -

https://rsmus.com/insights/tax-alerts/2024/oecds-new-faqs-and-user-guide-provide-roadmap-for-reporting-cryp.html

[KhunHeineken]

5 minutes ago, topt said:

Wonder how long that will continue -

https://rsmus.com/insights/tax-alerts/2024/oecds-new-faqs-and-user-guide-provide-roadmap-for-reporting-cryp.html

Governments are moving towards their country's "currency" being crypto, and their country cashless. 

 

Workers will be paid in crypto, and consumers will buy in crypto.   I will not live to see it in my life time, but it's already being planned. 

 

Then, the government will know where every single "coin" is sourced for every citizen, and where and when it's paid, and spent, and by who, and to whom.    

 

Many seem to think a cashless society will be just using Visa Card or MasterCard.  No, the master plan is blockchain crypto, but centralized, rather than decentralized.

[topt]

8 minutes ago, KhunHeineken said:

Governments are moving towards their country's "currency" being crypto, and their country cashless. 

 

Workers will be paid in crypto, and consumers will buy in crypto.   I will not live to see it in my life time, but it's already being planned. 

 

Then, the government will know where every single "coin" is sourced for every citizen, and where and when it's paid, and spent, and by who, and to whom.    

 

Many seem to think a cashless society will be just using Visa Card or MasterCard.  No, the master plan is blockchain crypto, but centralized, rather than decentralized.

Which is completely different, if not even opposite, to the comment you made and the one I replied to........

Not saying I necessarily disagree but you seem to be agreeing with my response........

[KhunHeineken]

3 minutes ago, topt said:

Which is completely different, if not even opposite, to the comment you made and the one I replied to........

Not saying I necessarily disagree but you seem to be agreeing with my response........

What I stated is a long way off, but is already being planned. 

 

What is currently here and now is the ability for one to make their crypto private and untraceable.