Every resident of Thailand will receive 10,000 Thai Baht in cryptocurrency, according to one of the candidates running for prime minister. If the contender’s party becomes the next government, the people will get the money, which is equivalent to around $300. In the forthcoming general elections scheduled for May 2023, this will be decided.
Srettha Thavisin, a real estate magnate who just entered politics, allegedly pledged a « basic-income style economic stimulus package. » This is according to an article in The Bangkok Post. If his party wins the May election, this will be paid for using digital money. Of note, Thavisin is a member of the Pheu Thai party.
In addition, the candidate stressed that the strategy will provide value to the nation and significantly eases the economic burden on its citizens. Notably, like every other politician in the globe, Thavisin claims that this would help individuals who are « trapped with some of the highest household debt in the region. »
A passage from Thavisin’s speech that is typical of campaign speak reads as follows:
“Our country has been economically bruised over the last eight years, with less income and more expenses for the people.”
The present administration, he added, has been feeding IV drips with small money handouts. Additionally, he stated that this was the wrong course of action since it did not promote the ideal and more desirable economic growth.
The chosen Crypto Token Is Still Unknown
Even though it was promised, it is still unclear what kind of money or tokens would be utilized for the airdrops in the event that Srettha Thavisin of the Pheu Thai party won the May election.
It is crucial to remember that the Bank of Thailand, the nation’s central bank, declared Thai baht stablecoins to be unlawful.
People React to the Promise Using Promise
However, Thanakorn Wangboonkongchana, a minister in the prime minister’s office, is quoted in The Bangkok Post as saying the airdrop idea would have significant effects on the whole nation’s financial system.
Other residents who questioned whether the action would be the best use of the monies were also cited by the local media of the nation. They felt that directing the monies toward eradicating poverty would have a greater impact.
Despite this, current polls indicate that the election will be extremely close because the Pheu Thai party has about 46% of the vote.
It is important to note that the fierce campaign running up to the general election in May 2023 is not the first time that Asia has seen the use of crypto terminology in political discourse. Crypto was also a part of the South Korean election campaign in March 2022.
Deregulation of cryptocurrency was included in the platform of Conservative Party candidate Yoon Suk-Yeol at the time, who went on to win the election and take office today. Each candidate had a highly compelling legislative plan, giving their party an advantage over the opposition, and the election ended up being quite close. With a final margin of less than 1%, Yoon Suk-Yeol was elected to office.
