Bitcoin hits the beach: Thailand’s sizzling crypto coup in Phuket
Phuket is set to become a crypto paradise as Thailand trials a new payment system using cryptocurrencies, all in a bid to make it easier than ever for tourists to splash their cash.
The architect behind this brainwave reckon it’ll not only put a smile on the face of tech-savvy travellers but will also give the nation’s tourism sector a futuristic facelift, said a government spokesperson.
“With digital innovations, we aim to provide a seamless experience for our visitors.”
Deputy Prime Minister and Finance Minister Pichai Chunhavajira proudly announced the initiative, setting the scene for foreign visitors to embrace Bitcoin and other digital coins as currency alternatives.
Unveiled at a recent seminar in the Thai capital, the plan zeroes in on Phuket and similar tourist magnets for its crypto experimentation.
Tourists participating in the trial will easily wield their digital assets, thanks to existing legal structures, said Pichai.
“There’s no need to rewrite the rulebook.”
The project seeks to lure in the cryptocurrency crowd, ensuring Thailand stays on the travel radar globally. Participants may need to register their Bitcoin via licensed Thai exchanges and verify identities, ensuring smooth sailing all around. Transactions would seamlessly convert to Thai baht, providing clarity for both shops and shoppers alike.
Pichai spotlighted Bitcoin’s meteoric rise and fixed 21 million coin supply, hinting at the digital currency’s potential for handling big-ticket buys, including luxury property in Phuket, reported Fintech News.
This pilot is a bold move to catapult Thailand into the future, blending tech with tourism to supercharge the economy.
Should this trial triumph, it could usher in a new age of digital currency adoption across the nation, making Thailand not just a land of smiles, but a land of digital savvy. Tourists and tech-heads alike will be sitting up to watch as Bitcoin hits the beach.
Latest Thailand News
