Cryptourism is a long-term plan of the Tourism Authority of Thailand

Cryptourism is a long-term plan of the Tourism Authority of Thailand

BUSINESS/ECONOMY | Sep 30, 2021 | WOZINGA NEWS

Cryptourism is a long-term plan of the Tourism Authority of Thailand

  • Cryptourism is now the proposed project of Thailand’s tourism agency.
  • TAT has a plan to develop a tourism platform for Thailand with TAT Coin.

By Marielle Petere Wozinga Staff

Cryptourism is a mega proposal of the Tourism Authority of Thailand. TAT governor Yuthasak Supasorn revealed the plan to mint the country’s utility token, Bangkok Post reported on Wednesday.

Tourism Authority of Thailand revealed its game plan to carry out “a cryptourism atmosphere.” If the Securities and Exchange Commission would approve the project,  the agency aims to launch the “TAT Coin.”

“TAT is currently in discussions with the Securities and Exchange Commission regarding the possibility of introducing the TAT Coin.” TAT governor Yuthasak Supasorn confirmed.

TAT Coin: As a utility token

In this regard, TAT Coin is a utility token. It would involve the transfer of vouchers into digital tokens. Thus, it could assist “operators gain greater liquidity” in business and leisure tourism. 

As a state agency, TAT has the objective to capitalize on a flourishing market of cryptocurrencies. It is also a long-term plan to develop a tourism platform for Thailand. 

Local crypto exchange Bitkub has a part of the proposal. It would feature the TAT Coin, other digital currencies, and non-fungible tokens.

For the past months, the NFT craze has become in-demand in the crypto market. It represents ownership of the digitized items. 

However, Thailand keeps claiming NFT as illegal though this digital asset could boost traffic and tourist areas. 

Cryptourism: Issuance of digital token

As of now, the issuance of the digital token is under discussion. It also requires an in-depth examination of the involvement of related organizations. 

The newspaper also pointed out that TAT Coin is not for trading purposes. Yet, bitcoin debit cards at airports need for the trips of crypto nomads. 

Meanwhile, Bitkub Capital Group Holdings CEO Jirayut Srupsrisopa commented on the global market cap of cryptocurrencies. The chief executive cited that the crypto market cap is currently US$2 trillion.

The TAT governor Yuthasak stated, “We have to prepare digital infrastructure and digital literacy for our tourism operators to commence cryptourism as the traditional business model might not be able to keep up with the new changes.”

Do you agree with the idea of implementing utility token for boosting tourism industry?

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