No Plans to Switch to Digital Currency Within Next 3-5 Years: Central Bank of Thailand

Thailand’s central bank has confirmed that a state-issued digital currency is currently not on the horizon for the country – at least not for the next three to five years.

According to a report by the Thai News Agency (TNA), Bank of Thailand (BoT) governor Veerathai Santiprabhob stated that while the issuance of a central bank digital currency (CBDC) has been successful in some developed countries, switching from cash to digital currency is not an easy task, owing to factors such as time, the complex nature of the process, people’s readiness to adapt to the change, and the efficiency of the technology.

Therefore, he added, Thailand is unlikely to make the switch during the next…

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