Pichai Announces Cryptocurrency Pilot Project in Phuket in 2022

Exciting news for travelers heading to Phuket! Deputy Prime Minister and Finance Minister Pichai Chunhavajira has announced a new project that will allow tourists to make payments with cryptocurrency, like Bitcoin, during their stay in Phuket.

This initiative is part of the government’s plan to make it easier for tourists to use digital assets for purchases while visiting Thailand. The pilot project, set to launch in Phuket this year, will test the use of cryptocurrency in the bustling tourist destination.

Pichai made it clear that the project will operate within the existing legal frameworks, so tourists can rest assured that everything will be above board. And here’s the best part – no changes to current laws are needed to make this happen!

The rise in popularity and value of cryptocurrencies, like Bitcoin, among foreign tourists was a driving factor behind this project. For example, did you know that the 21 million Bitcoins currently in circulation are collectively valued at over 2 trillion US dollars? That’s quite a hefty sum!

During the pilot project, foreign tourists may be able to register their Bitcoins through a Thai exchange, verify their identities, and use the coins to make purchases across Phuket. And don’t worry about converting your Bitcoins back to Thai baht – a clearing house will take care of that for you.

While this project is just getting started, there’s already a small community in Thailand that has fully embraced using digital currency for everyday transactions. In a village in Kalasin’s Huay Phueng district, locals have even set up a “Bitcoin town,” where shops and businesses proudly display signs indicating that they accept Bitcoin payments.

So, get ready to pack your bags and head to Phuket, where you might just be able to buy your next bowl of noodles or take a tuk-tuk ride using Bitcoin. The future of tourism payments is looking bright!