According to local media, Thailand is working to increase its Gross Domestic Product (GPD) by targeting digital crypto nomads who are on the verge of becoming a reality.
The Tourism Authority of Thailand (TAT) has been considering the introduction of its own utility token called TAT Coin as part of a planned “crypto tourism” campaign since September. The initiative aims to attract crypto-rich digital nomads and TAT has spoken with the Thailand Exchange about issuing TAT Coin.
24 reported by Bangkok Post, the infrastructure behind TAT Coin is “ready” to go live and is now waiting for the Thai government to give the green light.
At the “Transforming the Travel Industry With Crypto Tourism” conference on Tuesday (November 23), Jirayut Srupsrisopa, founder and CEO of the local exchange Bitkub, called on key decision-makers to approve a book for the implementation of TAT Coin:
“The private sector is ready to provide the digital infrastructure, but we are just waiting for the government to give the go-ahead by passing laws, regulations, or even guidelines to make it easier.” Digital Asset Market.
“National GDP can increase sixfold if we strengthen this market.”
According to the Bangkok Post, TAT Governor Yuthasak Supasorn stated that the crypto-tourism campaign “involves building a new tourism ecosystem that uses digital technology to enable the rich, including cryptocurrency holders, to get their funds directly to be transferred to the tour operator without an agent or broker. “
Supasorn said the move would greatly help local businesses recover from the lack of tourism funding due to the global pandemic. Al Jazeera news This week, Thailand recorded a total of 106,117 tourists in the first 10 months of 2021, far less than the pre-pandemic annual average of 40 million.
While the private sector stands ready to support the campaign, Supasorn warns that the government still has a lot of work to do to prepare for the launch of an ambitious initiative focused on digital currency.
“As TAT is a state company, there are many regulatory issues that we need to discuss with stakeholders before implementation. In addition, there are other precautions against cybercrime and customer protection that we have to be prepared for. “
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According to Cointelegraph