Thailand central bank to generate own cryptocurrency, announces Project Inthanon built on top of Corda.
Thailand is acknowledging the impact of technological advances on financial services. The Bank of Thailand (BoT) is dipping its toes in the ocean of cryptocurrency. BoT is in the helm of Project Inthanon, a project that accredits the central bank to issue its own digital currency. The use of this cryptocurrency will first be restricted to interbank transfers. Different local banks are cooperating to make this project an effective reality.
Project Inthanon will run on Corda, a Distributed Ledger Technology built by R3. Project Inthanon Phase 1 is anticipated to be finalized next year.