Thailand to develop central bank digital currency

Thailand’s central bank is working on a proof of concept trial for a central bank digital currency (CBDC) together with some of the country's largest banks.

The Bank of Thailand (BOT) has announced a CBDC project called "Inthanon", whose first phase is to be completed by March 2019.

The BOT said that it had partnered with eight of the country's largest banks to create a CBDC based on Corda, a distributed ledger technology developed by technology firm R3.

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