Myan­mar and Thai­land to utilise blockchain tech­nol­ogy

Mizzima Business Weekly - - CONTENTS -

This week, the Myan­mar and Thai cen­tral banks ap­proved the Krungthai and Shwe re­mit­tance pro­ject de­vel­oped by Everex. The en­dorse­ment was made of­fi­cial at a meet­ing in Chi­ang Rai, Thai­land, where fi­nan­cial in­sti­tu­tions in the re­gion demon­strated new so­lu­tions that en­able cross-bor­der pay­ments.

Gover­nors from the cen­tral banks be­lieve that the in­tro­duc­tion of a cross-bor­der pay­ment so­lu­tion will im­prove fi­nan­cial in­clu­sion in both coun­tries. Kyaw Maung, the gov­er­nor of the Myan­mar cen­tral bank, said that the two na­tions have the same cul­ture, which cre­ates to­geth­er­ness as the cross-bor­der re­mit­tance so­lu­tion de­vel­oped by Krungthai and Shwe bank will.

Veerathai San­tiprab­hob, the gov­er­nor of the Thai cen­tral bank, said that the afore­men­tioned meet­ing showed how blockchain tech­nol­ogy can solve chal­lenges ex­pe­ri­enced in the fi­nan­cial ser­vices in­dus­try. He added that the new re­mit­tance so­lu­tion by Everex will pro­vide a se­cure plat­form for peo­ple work­ing in Thai­land to send money to Myan­mar and vice versa.

Photo: The Digital Artist

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