Bank of Thailand awarded “2021 Best in Future of Digital Innovation” from DLT Scripless Bond Project
BOT Press Release No. 72/2021 | 07 Oct 2021 999 minutes read 55k
Mr. Dej Titivanich, Assistant Governor, Information Technology Group, Bank of Thailand (BOT), announced that BOT was awarded IDC Future Enterprise Awards: 2021 Best in Future of Digital Innovation from the IDC Digital Transformation (DX) Summit Singapore event, which was held on October 7th, 2021. The IDC Future Enterprise Awards recognizes outstanding organizations that have made critical breakthroughs in digital transformation. BOT’s digital transformation project was selected with regards to the development of DLT Scripless Bond Project.
The project utilizes Blockchain Technology in the development of scripless government bond infrastructure, supporting the issuance of government savings bond. The platform enables investors to receive bonds much faster, from up to 15 days previously, down to only 2 days. The platform utilizes Smart Contracts in verifying data, which significantly helps lower overall costs of bond issuance for all related institutions. Since its launch on August 26th, 2020, the DLT Bond Platform has supported 10 series of government savings bonds, worth over 160 billion baht.
The success of the project was the result of close collaboration between BOT and all participants, namely the Public Debt Management Office, Thailand Securities Depository Co., Ltd., Thai Bond Market Association, Bangkok Bank, Krungthai Bank, Kasikorn Bank, and Siam Commercial Bank. This platform ultimately forms a critical component of Thailand’s bond market infrastructure.
Bank of Thailand
7 October 2021