Thai lawmakers urge approval of tourism encryption to attract digital nomads

According to local media reports, Thailand’s efforts to increase GDP (GPD) by targeting encrypted digital nomads are about to bear fruit.

this Tourism Authority of Thailand (TAT) Since September, it has been considering launching its own utility token, TAT Coin, as part of a planned “cryptocurrency” campaign.The initiative aims to Attracting cryptocurrency rich Digital Nomads and TAT have been discussing the issuance of TAT Coin with the Stock Exchange of Thailand.

According to a report by the Bangkok Post on November 24, the infrastructure behind TAT Coin is “ready” and is now awaiting approval from the Thai government.

At the “Cryptographicalism to Change Tourism” conference on Tuesday, Jirayut Srupsrisopa, the founder and CEO Local cryptocurrency exchange Bitkub urges policymakers to approve the launch of TAT Coin:

“The private sector is ready to provide digital infrastructure, but we are just waiting for the government to press the button to help promote the digital asset market by enacting laws, regulations and even policies.”

“If we can strengthen this market, our country’s GDP can grow sixfold,” he added.

According to the Bangkok Post, Yuthasak Supasorn, director of the Tourism Authority of Thailand, explained that the cryptocurrency movement includes “the establishment of a new tourism ecosystem that uses digital technology to allow wealthy people, including cryptocurrency holders, to convert Funds are sent directly to tour operators without the need for agents or brokers.”

related: Mastercard launches encrypted link card in the Asia-Pacific region

Supasorn said that this move will greatly help the recovery of local businesses, which are affected by the lack of tourism capital flowing into the country due to the global pandemic.Al Jazeera Report This week, Thailand received 106,117 tourists in the first 10 months of 2021, which is only a small percentage of the 40 million tourists that averaged before the pandemic.

Although the private sector seems ready to support the movement, Supasorn warned that there is still a lot of work to be done within the government to prepare for such an ambitious digital currency-focused plan.

“Because TAT is a state-owned enterprise, we need to discuss many regulatory issues with relevant parties before implementation. We also need to prepare other preventive measures against cybercrime and customer protection,” he said.