Thai Finance Ministry Drives Digital Transformation with Blockchain

Asia Blockchain Review
October 10, 2019

The Ministry of Finance in Thailand has announced that it is supporting the implementation of blockchain technology to drive the country’s digital transformation. The decentralized technology is expected to improve the efficiency of the administration process while also enhancing transparency and accuracy across various government programs.

Adopting Blockchain to Improve Infrastructure

On September 27, the Ministry of Finance and agencies under its administration together with Krung Thai Bank signed a memorandum of understanding (MoU) on adopting blockchain to improve system infrastructure in a signing ceremony held under the theme “MOF Digital Platform is Now”.

According to Finance Minister Uttama Savanayana, this collaboration will help the ministry carry out its missions with greater efficiency in the future in order to better serve its citizens.

Embracing Digital and Decentralized Technology

The minister revealed that the administration is determined to promote the use of digital platforms to strengthen local businesses, while also uplifting the quality of life for Thai citizens.

Uttama disclosed that the government’s initiatives to drive digital transformation, such as the National e-Payment system and welfare card schemes, have been highly successful in steering the country towards its Thailand 4.0 goals in accordance with government policies. The government is therefore reinforcing its position of introducing digital technology to local communities by embracing decentralized technology.

“The Ministry of Finance is implementing blockchain technology for government administrative processes and to enhance the efficiency of public agencies,” Uttama said. “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.”


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
Tencent Granted Blockchain Bank License in Hong Kong
Major Chinese tech company Tencent has recently been granted a blockchain bank license from the Hong...

November 19, 2019

US Taps Mavennet to Track Canadian Oil and Gas with Blockchain
Canada’s own Mavennet has been selected by the US Department of Homeland Security to develop and imp...

November 19, 2019

Tradewind Developing Blockchain-based Platform for Precious Metal Trade
Fintech company Tradewind Markets has announced that it will launch a blockchain app for the preciou...

November 19, 2019

Marseille Port Successfully Ends Trial for Blockchain System
Marseille Fos Port Authority has successfully carried out a blockchain test to develop solutions tha...

November 18, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us