Thailand has finally announced the launch date of its long-awaited digital currency lottery, with the aim of stimulating the economy and tackling the country's high household debt. The initiative, which will see most adult citizens receive ฿10,000 baht (about $280), will begin in the fourth quarter of this year.
Eligible citizens, 16 years of age or older, who are in a certain income bracket can register for the state-backed digital wallet from August 1 to September 15. The registration process will be facilitated through an application called “Tang Rath”. The plan is expected to increase purchasing power and stimulate economic activity across the country.
The digital currency giveaway, a cornerstone of Prime Minister Srettha Thavisin's plan to boost growth, was originally slated for early 2024. However, it faced multiple delays due to funding issues. Lawmakers recently approved an additional ฿122 billion for this fiscal year to support the program.
The government expects the program to reach more than 50 million people, at an estimated cost of ฿500 billion (about $14 billion at current prices). However, with an expected participation rate of 90%, the actual cost is likely to be around ฿450 billion. Funding for the program will come from the state budget over two years, with ฿165 billion allocated for the current fiscal year and ฿285 billion for the next.
Prime Minister Thavisin had pledged to give 10,000 baht in the form of a blockchain token to every citizen over the age of 16 if he won the election. Despite its victory at the end of August 2023, the launch has not yet taken place. With the recent announcement, it looks like the long-awaited digital currency giveaway will finally become a reality.
English 
Español de Venezuela 