The Bank of Thailand unveiled on Thursday plans to build a prototype of a payment system for businesses using central bank digital currency (CBDC), or traditional money but in digital form being developed by monetary authorities around the world.
The CBDC prototype will be integrated with the procurement and financial management systems of Siam Cement and its suppliers, the Bank of Thailand said in a statement.
The project will begin in July and is expected to conclude by the end of the year, the central bank said, adding its scope will include conducting a feasibility study.
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18 June 2020