Thailand to give every citizen 10,000 Baht in crypto, Delio users unlikely to recover all funds, Vietnam is world's No.1 country for crypto.
Thailand’s crypto UBI
Thailand may soon have a national airdrop in the works where every citizen 16 years and older will receive 10,000 Baht . on August 30, Thailand’s ruling Pheu Thai party will consult the Bank of Thailand in developing a “utility type 1” token necessary for the airdrop. The solution will be a know-your-customer , blockchain-based infrastructure that sources say will take at least six months to roll out. A 100 Baht fee will also be charged per user for the KYC process.
Real estate developer and crypto investor Srettha Thavisin was elected on August 22 as the incumbent prime minister of Thailand. During campaigning, Thavisinthe exact 10,000 Baht per person basic income stimulus via “digital currency” if elected into power. In 2021, Thavisin’s firm, Sansiri, purchased a 15% stake in Thai asset tokenization provider X Spring for 1.6 billion Baht .
The Thailand Development and Research Institute said funding for the Thavisin Airdrop will come from tax collection in the 2024 fiscal year. The total budget estimate for the project is 560 billion Baht . The airdrop will not be equivalent to fiat Baht funds, however. Users reportedly can only spend the digitized tokens within four kilometers of their residence. The tokens will only be valid for a period of six months and cannot be converted into cash, nor be used to settle debts. Thavisin’s government is expected to assume office by the end of September.More bad news is coming for users of troubled South Korean Bitcoin lender Delio.
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