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Bangkok Block: A Weekly Dive into Thailand's Crypto Scene

Thailand's cryptocurrency landscape continues to evolve, with the government offering tax breaks to crypto companies, Satoshi Square discussing the impact of memecoins, Cosmos and Co BKK exploring developer tooling and projects, and the Web3 Builders Party delving into the bridging of Web2 and Web3.

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As we navigate through another bustling week in Thailand's crypto landscape, it's invigorating to see the blockchain and crypto community here not just surviving, but thriving.

So starting this week, we'll be taking a closer look at what's going on in the industry – innovation is flourishing, with a diverse range of projects cutting across decentralized finance (DeFi) and non-fungible tokens (NFTs), demonstrating the dynamic nature of the country's crypto ecosystem – and we're here to cover it all.

However, the elephant in the room is the impending election. The pledge made by the Opposition Party to airdrop crypto to every Thai citizen has sent ripples across the nation, making it the headline news of the week. It's still uncertain how these political developments will impact the crypto scene. But whatever the outcome, it's clear that crypto and blockchain are becoming integral parts of our economic and political discourse

Crypto Stimulus Package: A Game-Changer in Thailand's Political Arena?

In a bold move, Srettha Thavisin, head of Thailand's Pheu Thai Party, is promising a crypto airdrop of 10,000 Thai baht (approximately US$300) to every citizen, if elected prime minister. Designed as an economic stimulus package, this initiative aims to alleviate the burden of high household debt currently faced by Thais.

However, this proposal has stirred a debate within the country's financial system, with some questioning if the funds could be better used towards poverty alleviation. This move underlines the increasing prominence of crypto in the political landscape, not just in Thailand, but across Asia.

With almost all votes counted on Monday, the progressive Move Forward Party (MFP) and the populist Pheu Thai Party were projected to win about 286 seats in the 500-member House of Representatives, according to Reuters.

Satoshi Square Bangkok

On May 8th, the long-running Satoshi Square meetup in Bangkok convened at Japanese restaurant HiDOMO, located by the Phra Khanong BTS station. The meetup discussed PEPE and the impact of memecoins on the ecosystem, with contributors from Firo, Coinbag, and MakerDAO attending. The general sentiment around Bitcoin was optimistic, given the current global financial conditions and monetary policy.

Cosmos & Co BKK

Cosmos and Co BKK held a meeting where they invited a speaker from Sayve protocol, a learn-to-earn platform that incentivizes language learning. The speaker discussed how to use NFTs and gaming, the process of manipulating in-game NFTs, and the challenges of incentivization in blockchain gaming communities. The event proved insightful, particularly in regard to gamifying language learning platforms like Duolingo using Web3, blockchain, and NFTs.

Web3 Builders Party-Thailand Meetup

The Web3 Builders Party-Thailand Meetup, hosted by HabitTrade, discussed the future of Web3 and technologies that could build a bridge between Web2 and Web3 financial services and trading platforms. The event explored regulatory issues, centralized exchanges, and self-custody in a relaxed, outdoor setting.

Bangkok DAO WEB3 Crypto Party by CITEX Exchange

The "Bangkok DAO WEB3" Crypto Party hosted by CITEX Exchange brought together DAOs from China, Thailand, and beyond to discuss the path forward for DAOs and explore innovative use cases. The event served as a platform for the development of the industry and provided a resource docking bridge for blockchain enthusiasts.

In summary, the past week has seen exciting developments in the Bangkok crypto scene, from insightful meetups to novel crypto proposals in politics. As we continue to witness the increasing integration of blockchain technologies into various aspects of society, we eagerly anticipate what's to come.

Now, let's take a look at the upcoming events that are set to shape the future of crypto in Thailand.

Upcoming Events

  1. Crypto, Pool Party & Beers - Scheduled for May 27th, 2023, this event promises an exciting experience co-hosted with Epic Entertainment. The event will be held at the Amari Watergate Bangkok, bringing together crypto enthusiasts for an evening of insightful talks, chilled beers, and a pool party.
  2. Supercharging Bangkok: Web3 Builder Con 2023 - This global event will be held on May 18th, 2023 at the Bangkok Palace Hotel. The convention will bring together distinguished global VCs, business angels, and exceptional startups from around the globe. To register, visit the event's website.
  3. Create Generative NFTs with AI (2-Hour Online Coding Class) - This online class aims to guide participants in creating unique AI-generated art as non-fungible tokens (NFTs) using the blockchain. No advanced programming skills are required and test tokens are used for transactions. To participate, register now.

If you're around, please drop me a line! And reach out if you're in Thailand and have an interesting story or project you'd like to talk about.

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