Tourism Authority of Thailand (TAT) is planning to set a “Cryptourism atmosphere” by launching a new utility token and facilitating Bitcoin card payments. Thailand has recognized the exponentially growing market of cryptocurrency and is seeing it to heal the travel industry hurt by this ongoing pandemic situation.
The Crypto market has gained a lot of attention from all over the world. El Salvador is the first country to set up the Bitcoin payment infrastructure. Most of the countries are trying to regulate this unstoppable bull. Thailand is known for its beautiful beaches and tourism. A major part of the country’s revenue is generated from tourism. This major hit has got a hit from the ongoing pandemic and intends to set a Cryptourism atmosphere.
Cryptourism atmosphere will be setup to increase Tourism activity:
Yesterday, the Bangkok Post revealed that the TAT wants to launch a new utility token dubbed TAT Coin to grab its fair share of expanding the global crypto market. The publisher added that the TAT is talking to the Stock Exchange of Thailand for the possible launching of a new token and also is looking into the country’s crypto regulation policy. TAT further elaborated by saying:
We have to prepare digital infrastructure and digital literacy for our tourism operators to commence Cryptourism atmosphere as the traditional business model might not be able to keep up with the new changes.
The agency has revealed its short-term as well as long-term goals for a better understanding of what they intend to do. Short term goal of introducing a new utility token is to attract visitors and travelers from all over the world. The long-term goal includes upgrading the country’s business and leisure tourism platform in cooperation with Bitkub.
The authority hopes to use the future TAT Coin, or a non-fungible token (NFT), to encourage demand from the cryptocurrency market and increase traffic at specific tourist spots. The Bank of Thailand is also going to test its digital currency.
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