Academic Criticizes the Use of Blockchain for Distributing Digital Currency in Thailand

Blockchain Unsuitable for Distributing Digital Currency, Says Academic

By [Journalist Name], [Newspaper Name]

Bangkok, 10th September 2023 – Dr. Kittithat Chaiprasit, an esteemed independent academic and professor of architecture renowned for his expertise in political philosophy, recently took to Facebook to express his concerns about the use of blockchain technology for distributing a 10,000 baht digital currency to a population of over 50 million people.

Dr. Chaiprasit firmly reiterated his previous statement, explaining that the use of blockchain in this context involves excessive data transfer, resulting in a heavy and wasteful process, unless it is implemented on a large scale with a significant project budget. He did mention the possibility of utilizing the Paotang app; however, its limitations restrict its functionality to a mere 4 km in rural areas where access to shops is already scarce.

With regards to the upcoming distribution of economic stimulus funds in the early part of next year, Dr. Chaiprasit urged for a thorough review of the format and procedures involved. He admonished against solely focusing on developing a proprietary app or investing exorbitant budgets into systems that may ultimately prove to be of little value. In fact, he highlighted that various experts have already voiced their concerns, likening the situation to empty promises made in the past about rice distribution. Furthermore, he pointed out that the Kao Klai Party, in harmony with Thai Pheu Party, has actively engaged in analyzing and critiquing this matter.

Dr. Chaiprasit warned that if these issues are not addressed, it could lead to the downfall of the Pheu Thai party, with public sentiment playing a significant role. On the other hand, he commended the Kao Kao Party for their proactive stance on this issue, which has garnered them widespread support.

Expressing his final thoughts, Dr. Chaiprasit urged the Thai Pheu Party to reconsider their approach, assessing the appropriateness in terms of national budget and political implications.

10 September 2023 – Dr. Kittithat Chaiprasit, independent academic and professor of architecture, special teaching political philosophy Posted a message via Facebook stating: I still confirm my previous statement that Blockchain is not suitable for distributing 10,000 baht digital currency to a population of over 50 million people .It has too much data transfer, it is heavy, and wasteful. Except doing it to make a living with a huge project budget. (although you can use the Paotang app) Not counting the fact that it can only be used for 4 km in rural areas. In some areas there are hardly any shops available at all.

Regarding the distribution of economic stimulus money at the beginning of next year, Even if you do not agree But it is considered a policy that Pheu Thai has already campaigned for, so we do not care if we want to distribute digital money. I would like to review the format and due process. Don’t worry about not just developing your own app. Or starve the budget to develop apps and systems that have tremendous value. But it may not be worth using at all. Because of this issue, many experts have come out to say hello. It is no different than when promising rice. And Kao Klai Party is playing with Thai Pheu Party in this matter too. And they are good at analyzing and criticizing.

So if you do that, there’s a problem. In the end, Pheu Thai will lose and it will be a public vote. While Kao Kao is the only political party at the moment that has come out to act against her. You will get full points.

I want Thai Pheu Party to think again. whether what is done is appropriate or not in terms of the national budget and politically

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