PUBLISHED: 4:00 p.m. on October 4, 2023
The president’s digital money release program, also known as the digital wallet project, is scheduled to start in February, and the cabinet decided yesterday to establish a committee to oversee its execution.
The job will give away 10,000 ringgit in online currency to every Thai person 16 years of age and older for spending in particular areas in order to stimulate the economy over the little phrase. It requires funding of about 560 billion Baht.
Srettha Thavisin, the excellent minister and finance minister, is the president of the new commission. The deputy chairman are Prasert Chantararuangthong, Parnpree Bahiddha-Nukara, Deputy Prime Minister and Interior Minister Anutin Charnvirakul, and Digital Economy and Society Minister.
According to Deputy Finance Minister Julapun Amornvivat, who is one of the panel’s people, Mr. Srettha has previously scheduled the second gathering for this week, which may take place either tomorrow or Friday.
According to Mr. Julapun, the so-called digital wallet committee’s main duty is to examine and weigh approving the execution plan that will be created for the virtual pocket scheme, which will include the precise budget needed and the sources it will come from.
The council will also monitor the project’s progress, any issues or setbacks that may occur, and make sure it is free of corruption, he added, adding that the committee reports directly to the cabinet.
Mr. Julapun reiterated that the government had already discussed this matter with the Bank of Thailand( BoT ) and was confident the project does not violate any of the laws and regulations that were raised about the possibility that it might be in violation of these.
According to Mr. Julapun, blockchain technology is the most visible technologies currently in use and will be used to run the digital wallet program.