Thaksin: Govt opening door for using Bitcoin in Phuket

DE FACTO Pheu Thai boss Thaksin Shinawatra said at dinner talk last night (Jan. 13) that the government is moving to allow payment by Bitcoin in Phuket with recipients not at any risk at all as this is another currency in the world, Naewna newspaper said.

At the dinner talk held at Dusit Thani Hotel and entitled “Chat with Tony: Bull Rally of Thai Capital Market” organised by Khao Hoon newspaper Thaksin was accompanied by Deputy Prime Minister/ Finance Minister Pichai Chunhavajira, Deputy Prime Minister/Transport Minister Suriya Juangroongruangkit, Deputy Prime Minister/ Digital Economy and Society Minister Prasert Chantarawongthong, Commerce Minister Pichai Naripthaphan and Deputy Finance Chulaphan Amornvivat.

Many tycoons and business executives were also at this event including Mr. Dhanin Chearavanont, senior chairman of Charoen Pokphand Group (CP), Mr. Keeree Kanjanapas, chairman of BTS Group Holdings Plc and Mr. Sarath Ratanavadi, CEO of Gulf Energy Development Co., Ltd.

Thaksin started off by saying before attending this function he talked to his daughter/Prime Minister Paetongtarn Shinawatra and her economic advisers so there should be no surprises for the government.

In a new move the government is preparing a sandbox, possibly starting with Phuket, to allow payment by Bitcoin managed by the government, he said.

The recipients are at no risk as it is like accepting the US dollar which has a clear exchange rate with the same applying to Bitcoin.

He also said Thailand should bring in new innovations such as stem cell technology.

This technology is a rapidly developing field that combines the efforts of cell biologists, geneticists and clinicians and offers hope of effective treatment for a variety of malignant and non-malignant diseases.

He also touched on the electricity rate saying he recently gave a speech that it could be reduced to 3.70 baht a unit from the current rate of 4.42 baht a unit.

While those in charge agreed that this could be done, the public did not understand which led to energy stock prices plunging.

In reality doing so does not affect anything because the focus would be on cutting wastage. An example is local government units leaving lights on day and night because they do not have to pay for electricity.

Thaksin underscored that the issue of high power rate can be resolved. Any power plants quoting prices higher than green energy level should stop production and be placed on standby because the price will be reduced to the average rate.

Doing this might affect PTT Plc somewhat because there is the issue of pipeline fee but they are willing to reduce the power rate.

CAPTION:

De facto Pheu Thai boss Thaksin Shinawatra at the dinner talk last night. Photos: Naewna