During discussions at a forum focusing on the 'Digital Wallet' scheme, advisor Pichai Chunhavajira stated that the initial plan to give the benefit to all eligible citizens must be reconsidered.

Thailand’s ambitious “Digital Wallet” Initially, there was a consideration of creating a new application that leveraged blockchain, but concerns about costs and time commitments have caused a rethink.

Instead, the government is now revisiting the 'pao tang' app, which was utilized during the pandemic for rendering financial support.

These developments come after previous announcements highlighted the postponement of the 'Digital Wallet' initiative until early 2024. The decision was influenced by the need to protect both funds and personal data amid persistent cyber threats in digital transactions.

Prime Minister Srettha Thavisin’s original vision was to stimulate consumer spending significantly and uplift the Thai economy.

The government aimed for a 5% growth rate in the coming year, banking on increased economic activity to bolster tax revenues that would fund this initiative.

However, the initial plans received mixed reactions and critiques. Some experts recommended a more selective approach that targets e-wallets specifically at those most in need, while others, including former senator Rosana Rositrakul, voiced worries over the potential economic fallout amid the nation's existing financial difficulties and public debt.

While Thailand's goal to leverage digital currency for economic recovery is evident, the journey toward its execution faces numerous hurdles and intricacies. blockchain technology for money distribution.

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