Srettha Thavisin, the head of Thailand’s opposition party, is promising every citizen (from age 16 and above) 10,000 Thai Baht (approx. $300) worth of crypto if elected prime minister following the next general election scheduled to take place on May 14, 2023.
Thai Opposition Party Promises $300 Crypto Airdrop
According to a report by the Bangkok Post, the aforementioned amount will be distributed to spend on what is called an economic stimulus project aimed towards bringing debt relief to the people of Thailand.
Paetongtarn Shinawatra, Pheu Thai’s chief adviser on public participation and innovation, described the project as a blockchain technology-based effort to help distribute products made in Thailand and bring digital currencies into the country.
Per reports, the crypto assets will be airdropped using digital wallets built on blockchain technology that can be spent on goods and services within one’s community.
“Our country has been economically bruised over the last eight years, with less income and more expenses for the people. The current government has been feeding IV drips with small money handouts. That’s not the right way and doesn’t stimulate the appropriate and right economic growth,” Thavisin said, as quoted by Bloomberg.
Airdrop to Cover 50M Thais
The project is expected to cost 500 billion baht ($14.6 billion), covering around 50 million Thai citizens. It is unclear what specific crypto asset will be used for the airdrop. Two years ago, Thailand declared the Thai baht stablecoins to be illegal, citing a violation of the country’s currency law.
Thanakorn Wangboonkongchana, a minister in the prime minister’s office, commented on the matter, saying the proposal “would be a major challenge with implications for Thailand’s entire financial system.”
Meanwhile, crypto could yet again be playing a role in deciding the outcome of an election. Recall that opposition candidate Yoon Suk-Yeol won South Korea’s presidential election earlier last year after promising to deregulate the crypto industry during his campaign.
