Thai blockchain to be upgraded
BCI has been established to develop the country’s infrastructure and promote the use of technology in the business sector.
The Bank of Thailand, Thai Bankers’ Association and other organisations held a press conference on the establishment of BCI Thailand Co, Ltd, marking the first time in the world’s banking industry in which Thai and international banks collaborate to use blockchain on the same operating system.
This collaborative effort aims to see a 50 per cent increase in the use of blockchain-based letters of guarantee within three years, which will help slash operating costs and enhance competitiveness for businesses and the nation.
