Crypto News: In a strange development that could shake the crypto market in the next few months, Thailand opposition party leaders made an innovative election promise that involves giving away of crypto tokens. The party leaders made the promise in the wake of the country’s bad economic situation. Latest reports suggested that Thailand’s main opposition party is offering to give away $15 billion in cash via blockchain based digital wallets. The move is intended to revive the country’s economy and to fight debts.
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Thailand Party Offers Crypto Benefit
According to a Bloomberg report, the opposition party led by Pheu Thai, if elected to power, will distribute 10,000 baht each to about 55 million eligible citizens. This will amount to roughly $300 worth crypto transferred to individual digital wallet. The report quoted a party representative as saying,
“The money will be disbursed using digital wallets built on blockchain technology that can be spent on goods and services in one’s neighborhood.”
Stating that the “digital wallets will provide the necessary initial revival,” the representative revealed plans on how they would fund this program. Funds will be gathered from an array of government revenue sources, the prime minister’s discretionary fund, and taxes.
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If implemented successfully, the crypto fund distribution program could potentially come as a boon for the cryptocurrency market. Also, it would act as major validation for the rest of the world, considering El Salvador’s plans to accumulate Bitcoin grabbing eyeballs in the global markets.
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