August 22, 2018 343By Nathan Bentley
“In what BoT describes as a ‘collaborative milestone,’ the participating banks will jointly design and develop the proof-of-concept wholesale CBDC prototype, the first phase of which is expected to be completed by the first quarter of 2019. The effort, dubbed Project Inthanon, reportedly aims to ‘enhance efficiency of the Thai financial market infrastructure’ and contribute to the design of its future evolution.”See more for yourself, here. What does this mean for crypto in Thailand? Nothing too significant as yet. Indeed, with the BOT working towards such a project, we might expect to see a wider adoption of cryptocurrency in the future but to the general public this CBDC isn’t going to have a huge impact. Moreover, it’s probably going to take a long time to develop, meaning we shouldn’t expect to see any huge amount of institutional interest in the likes of Bitcoin pick up within Thailand after this. Slowly slowly though, in the long run this is good news for crypto adoption.