Prime Minister Sathit Taweeasin announced the Digital Wallet project, outlining its funding sources, functionality, and eligibility criteria. It is now evident that the existing e-wallet app will be utilized with the addition of blockchain technology, which will enable the government to combat corruption and address structural issues.
The funding for this project will come from various sources, with the primary source being the issuance of government bonds through the parliament. Individuals who receive funds must have a total deposit in all their accounts of no more than 500,000 baht and a monthly income of less than 70,000 baht.
The project is expected to be implemented starting in May 2024, and the borrowed funds will only be repaid when there is an increase in income.
TLDR: The Digital Wallet project, spearheaded by Prime Minister Sathit Taweeasin, aims to enhance the existing e-wallet app with blockchain technology to combat corruption and structural issues. The funding will primarily come from government bonds, with eligibility criteria based on deposit and income levels. The project is scheduled to commence in May 2024, with loan repayment tied to income growth.