The 40 million-user Pao Tang software will be connected to the blockchain, according to PM.
14 September 2023 at 20:39 PUBLISHED
The Krungthai Bank Pao Tang application will be used by the government for its task to create a digital wallet, according to Prime Minister Sretthana Thavisin on Thursday.
Following a plan presentation with Finance Ministry executives, Mr. Srettha announced that the software will be integrated with bitcoin technology.
He claimed that the government has a sufficient resources to distribute the 10,000-baht digital dollar to 56 million Thai people across the country.
The Pheu Thai Party claimed that the modern bag would cost around 560 billion ringgit and made it the focus of its election campaign. However, ministers were evasive about funding specifics during this year’s legislative discussion of the government ‘ plan statement, stating only that borrowing wouldn’t be a factor.
Mr. Srettha, the finance minister as well, stated that it would take the government less than a fortnight to understand the specifics and would choose an approach that would be most advantageous to the nation’s economic situation.
The more than 40 million-subscriber Pao Tang game offers a number of e-services, such as an electronic wallet, health-fibre, gold-wallet, and bond wallet.
The Finance Ministry is prepared to support the president’s plan to assist the consumer in coping with the rising cost of living given the current economic slowdown, according to Mr. Srettha.
He insisted that because the program calls for a sizable state funds, financial restraint and caution should be taken into account.