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Thailand: New Prime Minister Champions Crypto; Web3 Meetups Focus on Sustainability, VR

Welcome to this week’s edition of Bangkok Block, your insider lens into Thailand’s thriving Web3 space. In this edition, we’re covering the latest events examining how blockchain technology intersects with Regenerative Finance (ReFi), Virtual Reality (VR), and other emerging technologies.

Table of Contents

Blockchain Initiatives Highlighted in Pro-Crypto Prime Minister's Agenda

Newly appointed Thai Prime Minister Srettha Thavisin, a former real estate developer and CEO with ties to the digital asset sector, pledged to include crypto and blockchain initiatives in his agenda for office. Among these will be a digital airdrop of 10,000 Thai baht in tokenized form to each Thai citizen above the age of 16. 

With an estimated total cost of around 500 billion baht, the plan is set to roll out by January 1, 2024. The funds will be valid for six months and can be spent within a four-kilometer radius of the recipient's home. Vendors can then exchange crypto tokens for cash at selected banks. Critics, however, argue that tapping into existing digital wallet systems would be more efficient. 

But despite hurdles associated with implementing new blockchain solutions at this scale, the incoming government appears welcoming to crypto and Web3, potentially leading to a future uptick in Thai blockchain projects.

Chainlink Thailand's recent "Sustainable Futures" event delved into the Cross-Chain Interoperability Protocol (CCIP) and its synergy with Regenerative Finance (ReFi). Community advocate Sitthavee initiated the event, highlighting the importance of ReFi in tackling global issues like climate change.

A key highlight of the day was an in-depth panel discussion on "The Future of Tokenized Energy in a Regenerative World." Industry experts compellingly explored how Web3 technologies like dApps, tokenized assets, and NFTs can actively contribute to sustainable energy practices and innovative climate-friendly initiatives.

The event concluded with an interactive Q&A session, followed by a vibrant networking session featuring drinks and snacks. Held at Bangkok's True Digital Park, the gathering served as a meaningful catalyst for future action and collaboration in the ever-important tech-meets-sustainability space.

Offchain x Synergy Labs Delves into VR and Blockchain

The Offchain community gathered in Bangkok to delve into the transformative potential of Virtual Reality and blockchain technology. Themed around creating an Internet for the people and by the people, the collaboration by the global Web3 community Offchain and leading Internet Community Protocol (ICP) hub Synergy Labs offered several key insights. 

A diverse crowd of attendees, including developers and tech enthusiasts, engaged in fruitful discussions about the immense potential of blockchain and virtual reality. They explored how these emerging technologies could make strides in creating a more decentralized, user-centric digital landscape.

Adding unique perspectives to the dialogue, special guests from Demo and The Island Collective shared their firsthand experiences and successful case studies. They illustrated how Web3 technologies have already begun to power groundbreaking innovations in the realm of virtual reality.

Visionary Tech Founders Meet Top Talent at Exclusive Mixer

FACE, a dynamic community of Asia-based founders and investors, and the British Chamber of Commerce Thailand joined forces to bring together tech founders and extraordinary talent at a high-impact networking event

Limited to a select group of just 30 participants, the intimate evening provided a unique platform for startups to discuss their groundbreaking projects, while tech professionals had the chance to showcase their distinct skill sets.

With eyes on Asia and the emerging Web3 market, the goal was to identify potential hires and collaborators to take tech to the next level in an evolving regulatory environment.


Monday, September 3: Hang out at Axelathon Demo Day 2023 at MRT Queen Sirikit Convention Centre, where the future of blockchain meets innovation and talent. Presented by ContributionDAO and the Axelar project, this global hackathon casts the spotlight on talented blockchain developers and creators in Southeast Asia.

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