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Thailand’s Ministry of Finance Implements Blockchain

Thailand’s Ministry of Finance is implementing blockchain in the government’s administrative processes for better efficiency to serve its citizens.

Blockchain Adoption to Improve System Infrastructure

Uttama Savanayana, the finance minister said that the administration is promoting the use of digital technology to promote and strengthen local business.

National e-Payment schemes and welfare card schemes, an initiative to drive digital transformation have been highly successful in building up Thailand 4.0.

The country is therefore aiming to adopt the decentralized platform by introducing digital technology to the local community.

“The Ministry of Finance is implementing blockchain technology for government administrative processes and to enhance the efficiency of public agencies. Moreover, by offering better services to citizens, we will strengthen the local economy as well as uplift the quality of life for the general public.” Uttama Savanayana, finance minister of Thailand

Memorandum of Understanding to Implement Blockchain

On September 27th, a memorandum of understanding (MoU) on adopting blockchain technology was signed between Krung Thai Bank and the agencies under the Thailand Ministry of Finance.

The finance minister added that the move will help in better efficiency to serve its citizens while improving the system infrastructure.

The theme for the signing ceremony was held under “MOF Digital Platform is Now” aimed at promoting digital technology to drive local economies.

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