The proposed ~$280 handout has all the hallmarks of a programmable CBDC, including expiry dates & geolocation-based restrictions: perspective
Thailand’s Pheu Thai Party says that once it came to power, it would give all citizens 16 years and older a handout of approximately $280 that could only be spent within four kilometers of their homes and would expire after six months.
In a move intended to both stimulate the economy as well as lay the foundations for a digital economy, the 10,000 baht (~$280) programmable handout would be sent to the digital wallets of each eligible citizen that had the application on their smartphone.
For those without the smartphone app, Pheu Thai Party deputy secretary-general Paopoom Rojanasakul said, “There would be no problems […] as they could use their national ID card to get a personal code instead,” the Bangkok Post reported.
“Rojanasakul, who is also the spokesman for its economic committee, said that a Pheu Thai-led coalition government in the making would implement the promised policy once it comes to power,” according to The Nation.
The proposed handout was originally announced in April, but it was put on pause after the Pheu Thai Party came in second in the May 14 election, but the policy was revived last Friday.
“The Pheu Thai party, which won the second-highest number of seats, will lead a government”“Thailand’s Pheu Thai Party Takes Control—But at a Long Term Cost,” Joshua Kurlantzick, Council on Foreign Relations
Thailand’s prime ministerial vote is expected to take place sometime between August 18 and 22.
According to Reuters, “Pheu Thai will nominate for prime minister Srettha Thavisin, a former real estate mogul with no political experience up until the election.
“To succeed, Srettha needs support from more than half of the joint lower and upper houses, an outcome far from certain.”
The Pheu Thai Party was the runner-up to the Move Forward Party in the election last May, and the two parties formed a short-lived coalition before splitting in July.
“With Move Forward now consigned to the opposition, it is almost certain that Srettha will be confirmed as prime minister,” writes Council on Foreign Relations (CFR) senior fellow Joshua Kurlantzick.
Hellbound and Down 