Thai Deputy Prime Minister and Minister of Finance Pichai Chunhavajira announced on Wednesday that the Thai government will launch a trial program in Phuket this year to explore cryptocurrency as an alternative to cash payments, allowing foreign tourists to directly use Bitcoin for shopping and spending, thereby enhancing travel convenience and opening up new business opportunities.
According to a report from (Nation Thailand), Pichai Chunhavajira stated on Wednesday at a seminar that the Thai government's goal is to trial cryptocurrency payments in tourist cities across the country to allow foreign tourists to more conveniently use digital assets for consumption.
He revealed that this trial program will be launched first in Phuket this year and emphasized that it will fully comply with the current legal framework to ensure everything is legal and compliant. He stressed, 'We will not do anything illegal,' and pointed out that the current laws already provide sufficient mechanisms to support this program, so there is no need for additional legislation.
Pichai Chunhavajira pointed out that the background of this trial program mainly comes from the rapid international adoption of cryptocurrencies, and this trial in Phuket is also aimed at ensuring that Thailand does not fall behind in global competition and does not miss business opportunities.
In the pilot program, foreign tourists may need to register their Bitcoin assets at Thai cryptocurrency exchanges and complete identity verification in order to use Bitcoin to pay for goods and services. Each Bitcoin transaction will subsequently be converted into Thai Baht.
Although the government's experiment is still in its early stages, there is a small community in Thailand that is familiar with cryptocurrencies, which is taking the lead in trying digital currency payments in their daily lives.
According to the documentary from the YouTube channel 'Right Shift,' a village located in Huay Phueng District, Kalasin Province, has become known as the 'Bitcoin Village of Thailand' among cryptocurrency enthusiasts.
The documentary introduces a Bitcoin advocate who opened a coffee shop in the local area to teach villagers how to use the smallest unit of Bitcoin, 'Satoshi,' and gradually promote cashless transactions.
Currently, more than 80 villagers have accepted Bitcoin payments, conducting transactions through the Bitcoin Lightning Network. Businesses such as noodle stalls, market vendors, meatball snack stalls, and tuk-tuk services have all displayed signs saying 'Bitcoin payments accepted.' Local residents even affectionately call the coffee shop owner 'The King of Bitcoin in Huay Phueng.'
"Thailand's tourism upgrade! Phuket trial of 'cryptocurrency payments' makes spending more convenient for foreign tourists" was first published in (Blockcast).