Thailand develops prototype for blockchain-based CBDC

digital-currency

The Bank of Thailand and its private-sector partners have developed their first prototype for a blockchain-based system to enable digital currency for interbank settlements between the BoT and eight commercial banks.

Wipro, one of the BoT’s collaborators on the project, announced on May 7 that its team had successfully developed the new blockchain-based system to enable commercial banks to conduct domestic funds transfers through a wholesale central bank digital currency (CBDC). The team hopes

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