NEWS Bank of Thailand Needs More Time to Complete and Launch Retail Digital Currency

[Google News Bot]

The central bank of Thailand is not going to rush with the launch of its digital currency as it’s not yet sure about the benefits it would bring. According to the head of the monetary authority, the development of the state-issued coin may take several years. Thailand’s Central Bank Wants to Better Understand Risks of Central Bank Digital Currency The Bank of Thailand (BOT) intends to take more time to complete the development of its retail central bank digital currency (CBDC). The monetary policy regulator aims to ensure that this version of the national fiat will offer additional benefit ...

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[Sincerem]

If they are not sure about the benefits it will bring , then there was no need for establishment of digital currency.
For digital currency to be established in most countries , they have analyse and find out the potential and the benefits it will bring to the economy and to the masses as well.

 

[Riberet19]

If they are not sure about the benefits it will bring , then there was no need for establishment of digital currency.
For digital currency to be established in most countries , they have analyse and find out the potential and the benefits it will bring to the economy and to the masses as well.

I think that many countries simply do not want to be left behind and want to create their digital currency simply for it, but they do not know what consequences or what benefits it can bring, really sometimes they want to go one step ahead without knowing what it entails.

 

[Yohanna]

I think that many countries simply do not want to be left behind and want to create their digital currency simply for it, but they do not know what consequences or what benefits it can bring, really sometimes they want to go one step ahead without knowing what it entails.

The Central Bank digital currency is a global project that each and every countries are tapping into because all of them wanted to move into the digitalize monetary system that growing very quickly.

 

[Riberet19]

The Central Bank digital currency is a global project that each and every countries are tapping into because all of them wanted to move into the digitalize monetary system that growing very quickly.

Yes, cbdc is a reality, but well, there are also some countries in which these projects have failed, we can mention Venezuela or on the other hand Japan, where its population rejected the CBDC project of the yen, because the Japanese people love cash.

 

[Sincerem]

I think that many countries simply do not want to be left behind and want to create their digital currency simply for it, but they do not know what consequences or what benefits it can bring, really sometimes they want to go one step ahead without knowing what it entails.

Maybe that's just the reason , but what is the needs. For me I am seeing no need here of engaging in anything or doing things that does not bring any development because they tend to be the one to spend a huge sum of money to make the digital currency to come to reality.

 

[Riberet19]

Maybe that's just the reason , but what is the needs. For me I am seeing no need here of engaging in anything or doing things that does not bring any development because they tend to be the one to spend a huge sum of money to make the digital currency to come to reality.

Yes, you are right, according to the data I have the CBDCs that were established, both the CBDC proposal in Japan failed, as well as the Venezuelan CBDC that came into circulation but also failed, also the digital yuan is not yet fully integrated and the majority of the population still does not know how to use it to tell the truth.

 

[Ononivami]

The whole world is becoming a global village and that could only be achieved with the digitalisation projects that is a been embarked upon by most of the countries because it is what is trending right now.

 

[Sincerem]

Yes, you are right, according to the data I have the CBDCs that were established, both the CBDC proposal in Japan failed, as well as the Venezuelan CBDC that came into circulation but also failed, also the digital yuan is not yet fully integrated and the majority of the population still does not know how to use it to tell the truth.

In that case we may jump into conclusion that the world is not yet ready to adopt the Central Bank digital currency because of so many factors.
Probably this will be much more easier in the future but for now I don't think so.

 

[Monster Masterpiece]

In that case we may jump into conclusion that the world is not yet ready to adopt the Central Bank digital currency because of so many factors.
Probably this will be much more easier in the future but for now I don't think so.

Every technology or terminology tooks some time before being familiarized by the people and by the way it needs some time for regulations too so everything is coming step by step.

 

[Sincerem]

Every technology or terminology tooks some time before being familiarized by the people and by the way it needs some time for regulations too so everything is coming step by step.

Even the government of my country at some point was also able to create the digital currency equivalent to the value of the local currency. Up till now such technology has not been adopted and such have even been forgotten by the masses.

 

[Riberet19]

In that case we may jump into conclusion that the world is not yet ready to adopt the Central Bank digital currency because of so many factors.
Probably this will be much more easier in the future but for now I don't think so.

I sincerely believe that they are rushing in the CBDC project when there are still people who do not know how to use a computer well or recent technologies, that is, everything must be more gradual if they want to achieve it.

 

[Potuse]

The launch of the digital currency has become a worldwide project and Thailand is not an exception because so many countries including some African countries have launched their digital currencies.

 

[Ononivami]

Most of the countries have impact on their own central bank digital currency project and it is a digital version of the Fiat currency and it is a way to digitalise the economy especially the monetary department.