Currently, governments of different countries are gradually issuing their own digital currencies, such as China, Sweden, France, and soon Thailand will have a digital currency for citizens. It will add to the existing payment options. does not come as a replacement, causing any choice to be lost

Digital baht Officially known as the Central Bank Digital Currency (CBDC) or Digital Currency Electronic Payment (DCEP) issued by the Central Bank of Thailand (BOT), the digital currency is called the digital baht and because the digital baht is money. TRUE but in the form of digital that cannot be touched (Not in the original form of cash or banknotes), so it has the same value as banknotes, for example 100-baht cash equals 100 digital baht, etc.

Digital baht differs from cash in the form of banknotes and coins. Usually, when using cash, you must withdraw your deposits to make payments through your hands. which is different from the digital baht which has nothing to be touched but is money issued by the central bank It can be used to pay off legal debts and have government assets backed up like cash.

Therefore, before it can be used, deposits/cash must be redeemed and stored in a digital wallet. For example, if you want 100 digital baht, you need to bring cash or deposit 100 baht and store it in an application on your smartphone. which the bank or a financial service provider licensed by the Bank of Thailand is in charge But without a smartphone Internet or deposit accounts with financial institutions It can still be accessed, for example, through a card that is used to tap to receive payments.

Digital baht is a currency that has been created digitally with blockchain technology. which is the same technology as cryptocurrency, but the digital baht will be issued by the central bank. It is like cash or banknotes but in digital form. The debt burden is not at the intermediary, but directly at the central bank. No risk of default which qualifies as a medium to pay for goods and services can maintain value While cryptocurrencies are issued by the private sector and focused on speculation and exchange of goods and services.

Digital baht is different from e-money in that e-money is electronic money issued by financial institutions and non-financial operators under the payment system law. Service providers will issue e-money to users who pre-paid to pay for goods and services in a closed loop. Only networks that accept e-money payments, which may be in the form of a card, such as a train card, prepaid card, or in a service provider's network. The value of e-money in electronic wallets is equal to the value of the money added, which is different from the digital baht issued by the BOT, which can be used for a wide range of payments. making it more thorough

The digital baht is different from the cryptocurrencies created by the private sector. which has a very volatile value and there is no currency law to support it is also different from some cryptocurrencies that have a value fixing mechanism against the base currency or other asset, allowing for less price volatility. (Stablecoins), which the holder may not be sure Fixed assets Does it really exist and who will certify it? (Source: Bank of Thailand)

Therefore, digital baht will add convenience. reduce travel costs Depositing, withdrawing, or keeping cash Increase efficiency to make cash more attractive with new financial technologies or build on new financial service innovations in the future.

The advantage of the digital baht that affects the economy is that the turnover rate in shopping is convenient and fast. causing the turnover of money from consumption The country's economy has the opportunity to expand and grow more rapidly, with the BOT reporting on the progress of the digital baht development that it plans to start experimenting with the digital baht in late 2022 with commercial banks and non-financial service providers.

From technology that has developed rapidly This makes it more convenient for consumers to choose privately issued digital currencies. but may face certain risks such as high volatility Cyber-attacks and theft

Therefore, digital baht is an alternative for people to have access to digital currencies issued by the Bank of Thailand, which are reliable and highly secure. Contributing to the economy and society It also lays the foundation for the Thai financial infrastructure to be ready for the future financial world. and is an alternative for issuing government funds to meet consumers' needs