The Leader of the Phak Puea Thai Party Identifies New Digital Wallet, Progressively Expanding Financial Means: The Unadorned Employ State ID Cards and Facilitate Facial Recollection to Address Telecommunications-Device Deficient Individuals.

After the Prime Minister’s announcement about the Digital Wallet project this past Friday, today Khun Phawamol Rojnaskul, Secretary-General of the Ministry of Finance and Deputy Leader of the Phak Pheua Thai Party, was interviewed by The Standard. He mentioned that even though the Digital Wallet builds upon the existing “Pengtang” application developed by Krung Thai Bank, it will be a brand-new app. When asked about the limitations of the existing wallet app, Khun Phawamol stated, “Everything needs to progress; we must move forward, not cling to the past.”

Despite the somewhat peculiar reasoning, Khun Phawamol specified that this new app will be based on blockchain technology and will utilize the existing registered user database of the wallet system. Additionally, in the future, this new app will include other features such as land title information, income data, and even NFTs.

For individuals without a mobile phone, Khun Phawamol explained that there will be measures in place to accommodate them. It is expected that they may rely on their ID cards, along with face scanning or possibly the use of PIN passwords. However, this aspect is still uncertain, and it may even be possible that passwords are not required.

TLDR: The Digital Wallet project, which builds upon the existing Pengtang app by Krung Thai Bank, will introduce a brand-new app with blockchain technology. It will utilize the current registered user database and may further incorporate features like land title info, income data, and NFTs. Measures will be implemented to support individuals without mobile phones, possibly through ID card verification, face scanning, or PIN passwords. The inclusion of passwords, however, is still undecided.