Promoting Blockchain in Thailand with Dom Charoenyos

Asia Blockchain Review
July 2, 2019

Dom Charoenyos is a veteran programmer and developer who has been recognized in Thailand’s tech industry for over 20 years. In an interview with MBA Magazine, he shared his thoughts on the development of blockchain in the country and talked about initiatives to promote Thai blockchain and crypto startups.

Blockchain Adoption in the Kingdom

Dom said that both the private and public sectors in Thailand are aware of the use of blockchain, with use cases being explored by many leading companies. 

According to Dom, initial exchange offerings (IEOs) are quickly gaining more interest, but are still considered illegal in Thailand. The country’s Securities and Exchange Commission (SEC) has yet to issue regulations governing the practice.

On the other hand, Dom expressed his opinion that Security Token Offerings (STOs) offer a safer way to invest, given that the tokens are tied to assets.


Next Steps for Blockchain Development

With the aim of establishing a public blockchain, Dom led the founding of the “Thaichain Association” earlier this year. Through the project, university students were offered the opportunity to create applications on the platform, while contests were held to give out tokens that were used to develop blockchain projects.

Dom expressed his confidence in the future of blockchain adoption in Thailand and that the industry will continue to grow, making parallels between the emerging technology and the early days of the internet.

Blockchain will play a big part in ensuring the security for business transactions while lowering operational costs. The technology will grow, just like the internet in its early days, and will become a part of our daily lives,” Dom said.


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