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Bank of Thailand Plans Retail CBDC Pilot Test by End of Yeararchive.ph/2err5
36 sats \ 2 comments \ @cryptocoin 8 Aug 2022 bitcoin
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0 sats \ 0 replies \ @cryptocoin OP 8 Aug 2022
The link for this post is using an archive for the article on Bloomberg's website. An archive has no paywall, no subscription requirement, and can be easier to read. The original article, on Bloomberg's website is:
Bank of Thailand Plans Retail CBDC Pilot Test by End of Year https://www.bloomberg.com/news/articles/2022-08-05/bank-of-thailand-plans-retail-cbdc-pilot-test-by-end-of-year
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0 sats \ 0 replies \ @cryptocoin OP 8 Aug 2022
The BOT doesn’t yet have plans to issue a retail CBDC, it said in a statement, explaining that “the issuance requires thorough consideration of benefits and associated risks for the financial system.” The pilot is part of a study to assess the suitability of technology and design, and will be conducted under a limited scale with selected participants.
This phase of testing will adopt technology developed by Giesecke+Devrient and is expected to begin at year-end and last until mid-2023.
In the pilot, the retail CBDC will be used in conducting cash-like activities, such as paying for goods and services, within limited areas and among about 10,000 retail users selected by the BOT, along with Bank of Ayudhya, Siam Commercial Bank and 2C2P (Thailand), the statement said.
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