The adoption of blockchain technology is increasing in various sectors and is progressing at a rapid pace, especially in the banking field.

newspaper reported Bangkok Post Recently, the Public Debt Management Office of Thailand intends to conduct the issuance of small savings bonds worth 200 million baht, or about 6.43 million dollars, as a trial issuance of blockchain-based savings bonds.

Usually in Thai public debt management the minimum face value of bonds is 1,000 baht, but with blockchain bonds, the minimum initial subscription will be 100 baht.

This new feature will initially use the state-run Krungtai Bank (KTB) digital wallet with additional distribution channels added, including bank branches, ATMs and mobile banking.

The ability to issue and trade securities in smaller quantities is a common and distinct advantage due to the lower costs of distribution, unlike the large amounts that require papers and procedures that make them take a longer period.

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Nine months ago, the Thai Bond Market Association announced that it would adopt blockchain technology to register bonds with additional projects.

Since then, Toyota Leasing in Thailand has issued a blockchain bond, and the Thai exchange is also planning to launch a blockchain-based cryptocurrency platform.

Previously, 22 banks came together in a group to introduce blockchain technology to secure trade finance.

Thailand is also very active in using blockchain technology to combat tax fraud, which began exploring the technology in this area two years ago.

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