Thailand’s opposition is preparing an ambitious measure in the event of a legislative victory in next month’s elections. Pheu Thai, the main populist-ranked opposition party, has pledged to distribute 500 billion baht (about $15 billion) to individuals over the age of 16 through digital wallets based on cell phone technology. blockchain.
Thai opposition prepares airdrop in case of legislative victory
Pheu Thaithe main opposition party in Thailand classified as populist, promises to distribute 500 billion baht (about $15 billion) if he wins next month’s election.
This would amount to distributing 10,000 baht (about $300) initially to 55 million people, with the offer only for individuals over the age of 16. Without specifying how much, the leader of the political committee of Pheu Thai also announced that more money would be distributed in the months following a hypothetical coming to power of the party.
The big surprise is that according to the Pheu Thai announcement, the baht we are talking about here will be distributed through digital wallets using blockchain technology. The wallet can a priori be used to purchase goods and services.
The elections, which will take place on May 14, will renew the 500 members of the House of Representatives. New poll follows recent dissolution of Thailand’s National Assembly by decision of the unpopular Prime Minister Prayut Chan-o-Cha.
At the same time, Pheu Thai also announced that he wanted to put in place numerous measures aimed at relieving the household budgetin particular by guaranteeing them a minimum monthly income, by tripling agricultural incomes or even by significantly increasing the country’s minimum wage, currently set at 354 baht per day, or about 10.44 dollars.
👉 Find our presentation of ZenGo, an ultra-secure wallet for your cryptocurrencies
Discover ZenGo
$10 Bitcoin bonus from $200 deposit 🔥
A measure to attract digital currencies
According to the Bangkok Post, Pheu Thai party leader Paetongtarn Shinawatrawould have qualified this decision of blockchain-based effort to help distribute Thai-made goods overseas and introduce digital currencies to the kingdom “.
Moreover, he also reportedly said that he wanted to make Thailand “ asean fintech hub [l’association des nations de l’Asie du Sud-Est, NDLR] “.
The exact currency used for this “airdrop”, however, has not been revealed, and this knowing that the digital baht is still not in the market. Still, a 2022 Chainalysis study ranked Thailand as the 8th most crypto-friendly country.
It remains to be seen whether the country will be able to assume such an expense, although the initiative is commendable. Indeed, some commentators have pointed out that such a measure could also have the effect of increasing the state’s debt and thus encouraging inflation.
According to a recent Reuters poll, the Pheu Thai party would currently attract 46% of the vote.
👉 Read also – Is DeFi the next target for US regulators?
The best way to secure your cryptocurrencies 🔒
🔥 Up to $30 in Bitcoin offered!
Source: Bloomberg
Newsletter 🍞
Receive a summary of crypto news every Monday by email 👌
What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.
Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.
To go further, read our Financial Situation, Media Transparency and Legal Notices pages.
Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
Maximilien Prue
660 items
