Thailand’s financial markets are exploring a new use for blockchain tokens. The Thai Bond Market Association (TBMA) is “studying the use” of blockchain tech for corporate bonds, according to a report by the Bangkok Post.
TBMA president Tada Phutthitada told the Post that the bond registrar platform will include systems for bond settlement, subscriptions and transaction verifications. Sorry, miners—the platform will be based on a permissioned smart contract blockchain, which means probably no moon.
Thailand’s Securities and Exchange Commission has already agreed to the project in principle, and the three-phase project is expected to be complete in about twelve months.
Chaitat Prachuabdee, executive vice-president of TBMA, told the post that the the new system “will cut the existing operational process to 1-3 days from 7-10 days.” (Read more…)