Miss Siritida Panomwon Na Ayudhya, Assistant Governor, Payment Systems Policy and Financial Technology Group has revealed the Bank of Thailand’s recent development of the Guideline for Blockchain Technology Adoption in Financial Services. 

With Blockchain’s robust potentials in providing increased efficiency, transparency and interoperability across industries, financial sector in Thailand nowadays has applied Blockchain technology in many financial activities, for instance, transactions verification, international remittance, electronic letter of guarantee, as well as financial infrastructure development projects.

Guideline for Blockchain Technology Adoption in Financial Services provides the principle for Blockchain technology adoption for financial service providers under the supervision of the Bank of Thailand to develop financial innovation, as well as the framework to leverage between the business use cases and risk management, in order to assure the system efficiency, security, and increase people’s confidence in using the financial services applying the new technology such Blockchain. 

The Guideline is consisted of four parts:

1. Blockchain business application
2. Blockchain governance 
3. IT risk management 
4. Legal risk management

The effective date of the Guideline is 4th June 2021.

Bank of Thailand
27^th July 2021