BLOCKCHAIN APPLICATIONS IN THAILAND
According to a recent story published by Thai newspaper Bangkok Post on October 9, the Thai Ministry of Commerce is considering the implementation of blockchain technology in different areas such as copyright registration, agriculture and commercial finance.
Practically we receive daily news from different countries that plan to implement blockchain technology in many industries and applications of daily life.
What the Thai Government intends is to boost the competitiveness and trade of its small and medium enterprises. And what better tool to achieve its objectives than the implementation of blockchain technology, that allows the safe and automatic registration of any commercial operation and transaction within the supply chains.
The rice industry will benefit most from implementation of blockchain technology in the country, since it will reduce the time of its exports to other countries. Currently it takes two to three weeks to ship the products abroad. With these better ones, a three-day shipping period will be passed, increasing confidence in all levels of the food chain.
Another interesting application that is being studied to implement in Thailand is in the financial area. In this case, what is intended is to create a new registry services platform to provide a faster issuance of bond certificates. With this improvement, it will be possible to reduce the bond issuance time from the current two weeks to three or four days.
cointelegraph.com