Asia Blockchain Review (ABR) is introducing its Thailand Blockchain Landscape Report, providing startups with the latest, on-the-ground insights and research findings. In the report, ABR recaps key developments in the country’s cryptocurrency and blockchain space over the past few years and introduces a comprehensive overview of active players and projects in the country.

A Strong Foundation for Blockchain and Crypto

According to ABR research, two of Thailand’s main strengths that will drive development in the blockchain and crypto industry are government policy support, coupled with well-structured regulations and the high digital penetration rate in the population.

Source: Thailand Blockchain Landscape Key Insights 

Meanwhile, the country’s Board of Investment has designated 2019 as ‘Thailand Investment Year’, with up to 50% corporate income tax reduction for investment in digital services, which is likely to drive higher interest in the industry.

Moreover, state agencies such as the Bank of Thailand, Thailand Post, Electronic Transactions Development Agency, and the Ministry of Finance have all deployed blockchain as part of their operations, reinforcing the country as one of the blockchain trailblazers in the region.

Industry Calls for Improved Regulatory Framework

On the other hand, ABR’s study of industry players has found that many are calling for the Thai government to improve the regulatory framework governing blockchain and cryptocurrency. Respondents cited legal compliance issues as a major challenge faced in their adoption and use of blockchain as part of business operations.

Source: Thailand Blockchain Landscape Key Insights 

Industry players also said that provisions for ICO (initial coin offering) portals under the Royal Decree on Digital Asset Businesses is a step in the right direction, as it has paved the way for security token offerings (STOs) in Thailand. 

Many indicated that once ICO portals are fully operational and STO regulations are in place, companies will have sufficient confidence in the local market to undertake STOs, with real estate tokenization expected to lead the way.

Key insights of Thailand Blockchain Landscape by ABR here at https://www.asiablockchainreview.com/download/abr-thailand-blockchain-landscape-key-insights/

For a more detailed look at the Thailand Blockchain Landscape, check out the full report on October 11th, 2019.

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