The politician Srettha Thavisin, from Thailand's main opposition party Pheu Thai, is planning to implement an innovative idea if his party wins the general election in May. Thavisin has suggested to grant an airdrop of 10,000 Thai Baht (approximately $300) in digital currency of some kind to every citizen. This could help to provide some economic relief for the country, as Thailand is a nation suffering from high levels of household debt.

Thavisin stated that the current strategy from the current government just 'feeds IV drips with small money handouts'. Considering that the country has been economically weakest over the last eight years, this is the right way to stimulate appropriate economic growth and provide citizens with more income.

The spokesman of the Phue Thai party did not indeed comment on what tokens would be used in this airdrop, as nowadays it is illegal to use Thai baht stablecoins. On the other hand, one of the ministers of the current government stated that this move would have major implications in the financial system of the whole nation. Some people have also mentioned that these funds would be better used to fight poverty in the country.

It is expected a close result for the general election: according to Reuters, polls from a few weeks ago placed Pheu Thai at approximately 46%. This is not the first election in which cryptocurrencies play a prominent role: in the South Korean election of 2022, the Conservative Party candidate Yoon Suk-Yeol, who went on to become president, proposed crypto deregulation in order to get an advantage over his opponent and finally win office by a very small margin.

It will be interesting to see if Pheu Thai manages to win the election and implement this airdrop in digital currency, offering citizens a unique type of economic relief that could in turn have a significant impact in the whole nation’s financial system.



Other News from Today