Wisutsunthornwas founded in 2009has been oriented towards Europeis a consulting & commercial brokerageis also a player & investor in the Fintech
Crypto-currency
While other countries (like the United States) are still trying to wrap their heads around the technology and how to implement it into their current infrastructure, Thailand and its government are already plotting its own central bank digital currency. Furthermore, Thai regulators have made significant strides since 2017; from opening up cryptocurrency company licenses to permitting exchanges and ICOs to operate in the country. The country has also gained interest from international firms by presenting clear-cut and decisive guidelines for foreign blockchain companies to run. It’s a model that we are seeing across most of Southeast Asia, and one that blockchain and cryptocurrency startup founders should take note of as they about global expansion.
In order to understand how a small country like Thailand can move so swiftly in the blockchain space, it’s important to know the approach of regulators and local companies. Unlike their western peers, most Asian blockchain companies and exchanges work with local regulators right from the beginning, even as they are first building their products and growing their communities. These organizations use formal and informal connections to get buy-in from their respective local governments in order to reinforce their reliability.
It’s not just the fact that Thailand is actively embracing the industry, but it is also how quickly and efficiently they are doing it. Authorities around the world seem to be playing catch up with crypto when it comes to creating and implementing regulations, even though the industry has been around for nearly 10 years. Thailand seems to have seen its potential and employed a decisive strategy when it came to the future of the technology in the country.
With Thailand leading the charge in the embracement of blockchain and cryptocurrency in Southeast Asia, we will likely see other parts of the world follow suit to work in alignment with their respective local governments — this will be essential if we want to see startups and companies thrive in the dynamics of this ever-growing market.
It’s not just the fact that Thailand is actively embracing the industry, but it is also how quickly and efficiently they are doing it. Authorities around the world seem to be playing catch up with crypto when it comes to creating and implementing regulations, even though the industry has been around for nearly 10 years. Thailand seems to have seen its potential and employed a decisive strategy when it came to the future of the technology in the country.
With Thailand leading the charge in the embracement of blockchain and cryptocurrency in Southeast Asia, we will likely see other parts of the world follow suit to work in alignment with their respective local governments — this will be essential if we want to see startups and companies thrive in the dynamics of this ever-growing market.