Verified
4 months ago
0

The Bank of Thailand (BoT) has announced the launch of Project Inthanon, an initiative aimed at creating its own digital currency.

According to BoT, the financial regulator of Asian country has joined forces with 8 partner banks and it is starting to create a prototype solution that will be based on Corda’s distributed registry technology created by the R3 consortium.

The project envisages the creation of tokens, through which money transfers across the country can be carried out using the interbank system.

Representatives of BoT noted that similar initiatives are also being implemented by the central banks of Canada, Hong Kong and Singapore.