Thailand tourism authority is considering creating its own utility token to take advantage of the growing popularity of crypto currencies.
The plan to launch the TAT coin will also have to navigate through Thailand’s complex legal framework and regulations. Discussions are taking place with the Stock Exchange of Thailand regarding its ambitions and how the transfer of value can be achieved without introducing the speculative aspects of trading.
The TAT coin would involve the transfer of vouchers into digital tokens that could help operators gain greater liquidity. The TAT governor, said he values the potential technologies that crypto currencies have to offer and trusts it is a great opportunity for the Thai tourism industry.
The TAT’s long term ambitions would see them to partner with the local Bitkub exchange to develop a tourism platform featuring the TAT coin and possibly non fungible tokens. Although Thailand is among the first countries in Southeast Asia to enact cryptocurrency legislation, NFTs are not yet legal.
On Monday, the Thai government announced it would waive quarantine for vaccinated travelers in Bangkok and other nine provinces from November 1 onwards, in hopes to revive the economy, which has been one of the slowest in East Asia and Pacific to recover from the pandemic.
