Bank of Thailand (BOT) has issued a press release that reveals the development plans for the Retail Central Bank Digital Currency (CBDC).
According to the press release, BOT has stated its plan to seek public comments regarding the proposed CBDC roadmap.
What BOT hopes to gain from exploring Retail CBDC is the ability to furnish the citizens with financial services that are more convenient and secure. Moreover, the development of a Retail CBDC could carve an efficient and economical future, and lead to more diverse and innovative financial services being in development.
The development of a Retail CBDC could be just the thing to shake up the financial infrastructure and eventually, the financial landscape. This can also radically change the roles of many stakeholders.
Seeing the drastic changes that this currency can potentially bring, it is mandatory to gather feedback regarding the development and issuance of Retail CBDC from the general public, not leaving out the public and private sectors too.
BOT has published a paper titled “The Way Forward for Retail Central Bank Digital Currency in Thailand” — a work that aims to explain what CBDC is, and to encourage discussions about the digital currency.