According to the central bank, the BOT deems it necessary to extend the scope of retail CBDC development to a pilot phase in which real-life applications will be conducted in cooperation with the private sector within a limited scale.
However, the BOT reiterated that it does not have plans to issue a retail CBDC at the moment.
The BOT will assess the benefits and associated risks from the pilot in order to formulate related policies and improve the CBDC design in the future.
The pilot will be separated into two tracks, the first being the “Foundation Track” to assess the system’s efficiency and safety including the technological design.
Source: Bank of Thailand Set to Kick off Retail CBDC Pilot by End of 2022 | Fintech Singapore (fintechnews.sg)