- Srettha Thavisin is running for the post in the upcoming May elections.
- This action is being taken to combat the country’s debt and stimulate the economy.
The opposition leader in Thailand has pledged to give every citizen $300 (10,000 Thai Baht) in a cryptocurrency airdrop as part of his campaign for prime minister. Srettha Thavisin, who is running for the post in the upcoming May elections, has made this assertion.
Thailand’s opposition party leaders have made a novel election pledge involving the distribution of cryptocurrency tokens. Also, this might cause a stir in the cryptocurrency market in the coming months.
55 Million Eligible Residents
Moreover, The commitment was made by party officials in response to the country’s poor economic performance. The largest Thai opposition party, according to recent reports, is providing $15 billion in cash through blockchain-based digital wallets. Also, this action is being taken to combat the country’s debt and stimulate the economy.
Furthermore, if elected, the Pheu Thai-led opposition party, as reported by Bloomberg, plans to give every one of Thailand’s 55 million eligible residents 10,000 baht. Each person will get around $300 worth of cryptocurrency in their digital wallet.
According to the report, a party spokesperson stated:
“The money will be disbursed using digital wallets built on blockchain technology that can be spent on goods and services in one’s neighborhood.”
Also, the “digital wallets will provide the necessary initial revival,” the speaker shared their intentions for funding the initiative. Taxes and other government funds at the prime minister’s discretion will be used to cover the cost.
Moreover, the cryptocurrency market may benefit from the crypto fund distribution scheme if it is effectively executed. The sector has already been facing regulatory scrutiny across the globe, especially from the U.S SEC. This move will definitely provide a much-needed boost.
