Earlier this week the Bank of Thailand (BoT) announced plans to experiment with a wholesale Central Bank Digital Currency (CBDC). At this stage, the objective of Project Inthanon is collaborative learning. The BoT is partnering with R3 for technology and eight banks, including Standard Chartered Thailand and HSBC.
The aim is to develop a Proof of Concept (PoC) built using Corda, for wholesale funds transfer. The insights gleaned from the PoC will influence the design of Thailand’s future financial market infrastructure.
In addition, the BoT plans to create a PoC for scripless government savings bond sale. In other words, it wants to try a fully digitalized bond issue without any paperwork.
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