Thailand pushes for ‘Cryptourism’ 

To give a major boost to Thailand’s tourism industry, the government has decided to tap the power of cryptocurrencies to make this possible. 

The Tourism Authority of Thailand (TAT) has recently announced that it would soon develop and roll out its own crypto to make the country more attractive, not only to tourists but also to investors as well. 

The crypto is planned to be called “TAT Coin”, and the tourism department aims to tap the country’s growing number of citizens who are both holding and investing in digital assets.

TAT said it is currently holding talks with the Stock Exchange of Thailand regarding the planned token. The tourism department also said that the coin would only be limited to voucher-related use, and wouldn’t be tradable. 

Permission

TAT would first have to obtain necessary licenses from the Securities and Exchange Commission (SEC) before it can roll out its TAT Coin. 

But Thailand’s SEC is known to be reluctant in advocating crypto-related transactions and deals, but it is yet to see if the regulator would approve the planned tourism-centered crypto. 

“We have to prepare digital infrastructure and digital literacy for our tourism operators in order to commerce cryptourism as the traditional business model might not be able to keep up with the new changes,” Yuthasak Supasorn, TAT Governor said. 

TAT has big plans in helping Thailand to be one of the world’s tech-forward nations, but the country’s regulators are clearly reluctant in supporting cryptos, mainly because of their volatile nature. 

Big tourism market

Thailand is known to be one of the top tourism destinations in the world. TAT pointed out before the global pandemic began, that the country had 40 million visitors per year, but these numbers have been greatly reduced due to travel bans. 

Now, TAT is laying out plans to bring back Thailand’s vibrant’s tourism industry, and it believes its TAT Coin could play a major role in this mission. 

Image courtesy of Cointelegraph News/YouTube

Source: https://bitcoinerx.com/bitcoin/thailand-pushes-for-cryptourism/