Sretha Thavisin, chief executive of real estate developer Sansiri, has been named Thailand’s next prime minister. The company is active in the digital asset space in the country.
In 2021, Sansiri acquired a 15% stake in Thai digital asset service provider XSpring, which operates a cryptocurrency brokerage as well as a licensed ICO portal in partnership with Krungthai Bank.
At the heart of Sretha’s campaign is the promise of a nationwide airdrop of 10,000 baht ($300) for every Thai citizen.
The 10,000 baht will be distributed to every Thai citizen aged 16 and above and can only be used within 4 kilometers of their home.
The airdrop will use a form of national token rather than existing digital assets or cryptocurrencies. Suppliers can exchange it for cash at designated banks.
The project has been criticized for its high cost (estimated at 500 billion baht ($14.3 billion)) and its use of blockchain technology at a time when Thailand already uses existing digital banking schemes.
According to previous reports, Sretha Thavisin said that if the election is successful, 10,000 baht of digital currency will be issued to citizens aged 16 and above.