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- The opposition leader and Prime Ministerial candidate promised a crypto airdrop worth $300 if elected.
- Crypto has started influencing national and international politics.
Thailand is having general elections in May 2023, and a contender has promised a $300 crypto airdrop if elected. As purported by the media, the Prime Ministerial candidate, a real-estate mogul, Srettha Thavisin, has promised that every citizen would receive 10,000 Thai Baht if his party wins the election.
Crypto Enters Election Scenario in Thailand
Thailand’s political party Pheu Thai is contending in the general elections. Their candidate Thavisin said that this airdrop would provide some relief to the citizens battling the highest household debt per person in the southeastern regions of Asia. While speaking to the media, he said that the country had been economically suffering for the last eight years, and people have more expenses to care for than their income.
However, the current government is providing financial handouts, which are insufficient. Also, this system is not good and does not stimulate the citizens to work for required economic growth, says Thavisin. There is still no information on what token will be used in the airdrop and no comment from the political party.
In 1997-98, the Asian financial crisis began in Thailand and soon spread in neighboring regions, probably because of Bangkok’s depegging Thai Baht from USD, thereby starting a domino effect of currency devaluation. In six months, the situation intensified, the Indonesian Rupiah lost 80% of its value, and the Thai Baht’s value was almost 50%.
This Asian financial crisis soon became global when the scenario spread to Russia and Brazillian economies.
Crypto is Greatly Influencing National and Intl Politics
For the United States presidential election, Robert F. Kennedy Jr. filed his nomination as a Democrat candidate. He has openly shared his views on the upcoming Federal Reserve’s Central Bank Digital Currency (CBDC) called “FedNow,” which will be powered by their in-house system “FedLine.”
Kennedy Jr. strongly felt that CBDCs were not good for the citizens as the government could use them to monitor its citizens’ finances. They could also control spending limits and even go to the extent of money expiration. His stance towards crypto has filled the crypto community with hope and could benefit him largely in elections.
Almost every country knows crypto is the next superpower, and anyone who can tame the crypto beast can rule the world. To address a few, here are some world polities embracing crypto and its advancements.
- Dubai is actively embracing crypto with mega investments.
- European nations are also working on crypto adoption.
- Latin American countries are actively adopting crypto.
- Asia is trying to emerge as the next crypto superpower.
National and international politics would both be influenced by crypto; the power of digital currency cannot be denied. If analyzed 20th and 21st century has been all about digitization. iPod started the digitization of music, then DVDs and streaming services digitized videos, and mobile did the same with communications. Crypto and blockchain can be considered the digitization of finance.
As finance is the core of every nation and its politics, it is bound to greatly influence everything.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
