CBDC rolled out in Thailand: it is Bitcoin or slavery \ stacker news ~bitcoin

Source: HRF's Financial Freedom Newsletter, Ayelen Osorio

"Thailand | Digital Cash Handout to Boost CBDC Adoption

With Thailand’s economy lagging behind most Southeast Asian countries, Prime Minister Srettha Thavisin unveiled a new plan to spur economic growth: giving 50 million Thai citizens 10,000 baht ($275) each via a digital wallet. This digital cash doubles as a pilot for the Thai central bank digital currency (CBDC), known as the “digital baht.” The CBDC will be distributed via a “blockchain-based mobile wallet” linked to citizens’ IDs and be subject to significant restrictions. For example, the digital cash can only be spent locally within a citizen’s residential area, is restricted to purchases of certain items and with registered vendors, and will expire six months upon receipt. Critics warn that the experiment might not only fail to stimulate economic growth but also lead to higher inflation and national debt, placing a further burden on citizens’ financial well-being. It will also grant the Thai government greater surveillance and control over individuals’ financial activity."

CBDCs are coming, fake money with high restrictions for users, very timely on halving day to remind everybody that it is bitcoin or slavery

30 sats \ 0 replies \ @DarthCoin 19 Apr

0 sats \ 1 reply \ @BTCFC 19 Apr

So sad. Had the blessed opportunity to travel to Thailand last year, and it quickly became one of my favorite places particularly because of the Thai people. Always kind, in good spirits, and always have a smile on their faces.

0 sats \ 0 replies \ @wingalt OP 19 Apr

The people are always the victims of their governments, 275$ is a lot of money in Thailand, inflation and serfdom is coming next

0 sats \ 0 replies \ @DiedOnTitan 19 Apr

This will fail.

0 sats \ 0 replies \ @BitSapien 19 Apr

they will take the money and cry later.

0 sats \ 1 reply \ @StillStackinAfterAllTheseYears 19 Apr

For example, the digital cash can only be spent locally within a citizen’s residential area, is restricted to purchases of certain items and with registered vendors, and will expire six months upon receipt.

The Thai have discovered scrip.

CCP total surveillance playbook rolled out globally