Thai Government uses Blockchain and AI to Digitalize Economy

The Ministry of Digital Economy and Society of Thailand (DE) intends to use blockchain in the development of mobile applications and solutions for e-commerce.

As reported
The Bangkok Post, the government, seeks to increase Thailand’s revenue, quality of life, and digital competitiveness through the use of distributed ledger technology (DLT), as well as mobile applications and e-commerce solutions.

According to Buddhipongse Punnakanta, Minister for Digital Economics, some key areas will be chosen for testing blockchain, cryptocurrency and artificial intelligence (AI) technologies to make the ministry achievable.

Nuttapon Nimmanphatcharin, president of the Agency for the Promotion of the Digital Economy (Depa), suggested that mobile apps and e-commerce platforms have the potential to stimulate the rapid sale of products on the Internet for small businesses. In addition to using these platforms, courses will be organized to educate people on how to advertise and sell their products on the Internet.

It is also reported that the minister recently met with ten groups of experts from various sectors, including blockchain, cryptocurrencies, software, artificial intelligence and the media. At a meeting organized by Depa, the opinion of these experts was asked about the current government policy and ways to practically implement the digital policy in the country.

“Proposals from these talented groups will be considered in order to find solutions to create better ways to achieve the goals of the country’s digital economy,” said Baddipongse.

The minister also said that regulations should no longer be burdensome for the private sector and should allow the provision of services in accordance with Thai 4.0 policies. In addition, the digitalization policy should be aimed at digitizing all aspects of the economy, including security.

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Recently it became known that the Anti-Money Laundering Authority of Thailand (AMLO) plans
amend the laws of the country so that cryptocurrencies are subject to AML laws.