Thailand is almost ready to start giving away digital money. This will likely help the economy, and people who want to receive the government-backed “Tang Rath” digital wallet must be at least 16 years old and make a certain amount of money between August 1 and September 15.
People who want to receive the government-backed “Tang Rath” digital wallet must be at least 16 years old and make a certain amount of money between August 1 and September 15. The digital wallet is meant to help businesses across the country and make it easier to buy things.
Funding and Participation Details
The gift was supposed to happen in early 2024, but it has been pushed back several times because of money problems. But because of changes in the law recently, an extra 122 billion has been set aside for the current fiscal year to support this effort.
The government thinks the program will help over 50 million people. It will cost $500 billion, which is around $14 billion. Since 90% of people are expected to take part, 450 billion naira is likely to be spent in real money. There will be two payments of ₿165 billion for this fiscal year and ₿285 billion for the next. The money will come from the state budget.
Everyone over the age of 16 who met the requirements would receive 10,000 baht in blockchain tokens, according to PM Srettha Thavisin’s promise.
Thai people should spend more and pay off their huge amounts of debt with the free digital currency to help the economy get back on its feet. For those who are worried about money, this plan will help. It will also help the business as a whole.
