Thailand’s Ministry of Finance Implements Blockchain

Asia Blockchain Review
October 6, 2019
Thailand’s Ministry of Finance Implements Blockchain

Thailand’s Ministry of Finance has revealed that it is implementing blockchain technology in government administrative processes in order to enhance efficiency and better serve citizens.

Adopting Blockchain to Improve System Infrastructure

Finance Minister Uttama Savanayana announced that the administration is promoting 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.”

Memorandum to Implement Blockchain Technology

On September 27, the Ministry of Finance gathered agencies under its administration together with Krung Thai Bank to sign a memorandum of understanding (MoU) on adopting blockchain to improve system infrastructure. According to Uttama, the move is intended to help the ministry carry out its missions with greater efficiency in the future.

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

Source: https://tna.mcot.net


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