Earlier this week the Bank of Thailand (BOT)
announced the results of its proof of concept (PoC) for a wholesale Central Bank Digital Currency (CBDC). Wholesale CBDCs are targeted only at financial institutions, and eight took part. R3, the enterprise blockchain company, was the technology partner alongside Wipro. The overall conclusion was positive, though some areas were identified as needing further work.
The eight banks that participated were HSBC, Standard Chartered, Bangkok Bank, Krung Thai Bank, Bank of Ayudhya, Kasikornbank, Siam Commercial Bank and Thanachart.
“The outcome of Project Inthanon has demonstrated that DLT has not only increased efficiency but also reduced risks and overall costs in the financial ecosystem,” said Pimolpa Suntichok, Senior EVP Commercial Banking Solutions, Siam Commercial Bank.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
