DES minister promotes blockchain education for Thailand’s economic leadership

Speaking on Saturday at Blockchain Genesis: Thailand Blockchain Week 2023, he stressed the importance of understanding and leveraging this technology for economic growth.

The two-day event, under the theme “Build in Bear, Rise in Bull”, kicked off on Saturday at Samyan Mitrtown Hall.

The event serves to showcase blockchain technology’s potential, transforming from a mere enabler to a robust business model and industry.

“Technology plays an important role in driving society and the economy, and one of the most promising technologies is blockchain. If Thailand uses blockchain technology to its fullest potential, it can bring many benefits, including increased efficiency, as well as reduced steps and expenses in various transactions,” he said.

He also pointed out that blockchain technology allows for traceability, which will help reduce the risk of corruption, while also increasing transparency and accountability.

Blockchain technology also creates new trade opportunities, expands markets internationally and creates jobs and businesses.

“In the near future, I believe this technology [blockchain] will be beneficial to both the public and private sectors in several aspects, such as making the transfer of critical patients between hospitals easy, promoting soft power, or protecting pieces of art from being imitated,” he said.

Urging everybody to stay up to date with blockchain and other innovative technologies, he said, the ministry was actively collaborating with businesses to fortify Thailand’s digital infrastructure through legal amendments and support.

Thailand as a digital hub

“Thailand is one of the top countries for high adoption. We have also expanded rapidly in the trade of digital assets, while major players such as banks have invested in the cryptocurrency market,” said Sanjay Popli, Cryptomind Group’s CEO.

However, he said, to become a digital hub in Southeast Asia, Thailand must address a few challenges first, like regulations, visa policies and talent development.

As for the “Build in Bear, Rise in Bull” theme, he explained that in a bear market, investors pull back or delay their investments in risky assets like digital ones.

However, he said, this dull period is also great for people to sharpen their knowledge and skills, as well as accumulate potential growth assets before the bull market emerges.

“Currently, the bear market for digital assets has already ended, which means this market is rising amid several factors of support, such as the growth of Bitcoin, the upcoming Bitcoin Halving in 2024 and the approval of the Bitcoin SPOT ETF,” he said.

He said this event’s goal is to serve as a national platform for tech nerds, experts and other interested parties to share their knowledge and experience to improve the overall ecosystem.

The expo, which is showcasing technology from nearly 50 businesses as well as a line-up of expert speakers, is expected to attract more than 5,000 attendees.

“What surprises me is that nearly 500 foreigners have registered to attend this year. The majority of them are from Vietnam, Singapore, Hong Kong, Taiwan, and China," he said, adding that this expo will eventually become an event in the region that nobody wants to miss.