Govt urged to make rules to regulate blockchain technology

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Bangkok – The government and private sector are urging society to be enthusiastic about developments in the financial business such as blockchain technology.

On Sunday, former Deputy Prime Minister Phongthep Thepkanchana presided over a seminar on blockchain at the Royal Thai Navy Convention Hall. A lot of Thai and foreign businesspeople, many from China, participated in the seminar.

Blockchain is a technology that manages digital assets via a database in which all the nodes in a network possess the same information at all times. Blockchain is currently used by new financial businesses to provide easier and more convenient financial services to customers.

The seminar was expected to encourage blockchain learning and development of new services using blockchain. The seminar suggested the government urgently study the technology, impose clear regulations and support investment in blockchain by the private sector.