Thailand's Finance Ministry will release $150 million worth of government-issued digital tokens to facilitate public investment in the national borrowing plan. The move is among the global trend of countries embracing blockchain-based solutions. Finance Minister Pichai Chunhavajira confirmed the issuance of G-tokens within two months to raise money without issuing debt instruments. The tokens offer Thai citizens an alternative investment with higher returns. The project, fulfilling Bank of Thailand needs, aims to test the appetite of the public and build trust in digital assets. Not functioning as financial obligations, G-tokens provide flexibility in state borrowing under law. Thailand's initiative reflects a global trend towards the use of cryptocurrencies. Dubai and Bhutan, among other countries, are embracing digital payments and crypto alliances as well. Thailand's G-token launch is a significant milestone in the development of finance with the help of blockchain technology, which may be followed by other nations
It looks more like an online version of the government bond. Many many other countries have already moved to online platforms where retail investors were allowed to participate. Even in my country, people can buy government bonds in smaller denomination. Earlier it used to mostly available for the institutional investors.
So this is nothing new in terms of technology. But it's good to see the intent of the government to bring in online facilities to increase participation from the retail investors.