Pheu Thai Party: 6-Month Digital Currency Handouts
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Thailand's Pheu Thai Party plans to give citizens aged 16 and older a $280 handout to stimulate the economy. The funds can be spent only within four kilometers of their homes and expire after six months. The program involves sending the handout to digital wallets of eligible citizens. This resembles a Central Bank Digital Currency (CBDC) due to blockchain technology and programmability, including geolocation-based restrictions and expiry dates. While over 100 central banks explore programmable CBDCs, Thailand's Bank of Thailand is still in the trial stage. This scheme could lay the foundation for a future digital ID-based CBDC. Similar programmable CBDC concepts have been discussed at high-level meetings and conferences.