Report: Thailand’s Industry to Adopt Blockchain Tech by 2018

Thailand is bound to see a sweeping adoption of blockchain technology in a number of areas including finance by the year 2018, according to a report in regional English daily Bangkok Post.

The news daily cites a blockchain specialist who sees businesses in Thailand adopting blockchain technology by the year 2018. Beyond its core features in transferring value with transparency and security while maintaining trust, the inexpensive ease in which it can be implemented will encourage businesses to switch over, opines Bhume Bhumiratana, a blockchain tech expert.

The cost of development will also be smaller compared to the maintenance of existing traditional systems infrastructure, according to the expert.

Call for Regulation

The tide of disruption brought forward by Financial technology will also mean that policymakers and regulators are required to quickly understand and then implement new regulations to foster a flourishing sector.

For instance, the Thailand Fintech Association’s chairman recently issued a public call urging the government to introduce regulations in the country to keep abreast with sweeping technological changes in an effort to encourage and support

Read more ... source: CryptoCoinsNews

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