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One of the aspirants for the prime minister seat in the Thailand government has promised every citizen 10,000 Thai Baht in crypto. The citizens will receive the amount, which translates to about $300 if the contender’s party forms the next government. This will be determined in the upcoming general elections set for May 2023.
Just In: Head of #Thailand’s Opposition Party Promises $300 #Crypto #Airdrop if Elected Prime Minister.
Well, looks like they are really banking on their crypto strategy to take flight.
Maybe they can consider airdrop some #ArbEgg to his supporters too. @ArbswapOfficial pic.twitter.com/8kPub4AkTV
— The Crypto Squad (@thecryptosquad_) April 7, 2023
According to a report in The Bangkok Post, real estate kingpin who recently took to politics, Srettha Thavisin, has promised a “basic-income style economic stimulus package.” This will be delivered through digital currency if his party wins the May election. Notably, Thavisin is from the Pheu Thai party.
Moreover, the aspirant highlighted that the approach will prove value-adding to the country, providing significant economic relief to the country’s citizenry. Notably, akin to every other politician in the world, Thavisin says this will benefit those “trapped with some of the highest household debt in the region.”
Typical of campaign jargon, an excerpt from Thavisin’s speech reads:
Our country has been economically bruised over the last eight years, with less income and more expenses for the people.
Furthermore, he shared that the current administration “has been feeding IV drips with small money handouts.” He also added that this was not the right way as it did not stimulate the ideal and more desirable economic growth.
Crypto Token Of Choice Remains Unknown
Despite the promise, it remains unknown what currency or tokens will be used for the airdrops in case Srettha Thavisin of the Pheu Thai party wins in May.
It is imperative to note that the Bank of Thailand, otherwise referred to as the country’s central bank, announced that Thai baht stablecoins were illegal.
Citizens Respond To The Promise By Promise
Nevertheless, The Bangkok Post records a minister in the prime minister’s office, Thanakorn Wangboonkongchana, saying:
The airdrop proposal would have major implications for the whole country’s financial system.
Additionally, the country’s local media has also quoted other citizens questioning whether the move would be the best use of the funds. In their opinion, the funds would achieve more if channeled toward poverty alleviation.
Notwithstanding, according to recent polls, the election will prove very competitive, given that the Pheu Thai party boasts around 46% of the recent poll votes.
It is worth mentioning that the May 2023 general election and the intense campaign leading up to it would not be the first where crypto terms fly around in Asia. In March 2022, South Korea’s election also used crypto as a campaign strategy.
At the time, Conservative Party candidate Yoon Suk-Yeol, who eventually won to become the current sitting president, put crypto deregulation in his manifesto. The election proved very close, with each side presenting a very strong legislative proposal that gave it an edge over the competition. Eventually, Yoon Suk-Yeol won office with a less than 1% margin.
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