Thailand is thinking over the possibility of a tourism token

The Tourism Authority of Thailand is going to schedule a set of panel discussions with the local Securities and Exchange Commission. The authority is about to issue a utility token claimed for the crypto tourism development. The token is going to be called TAT Coin from the authority’s abbreviation.

The initiative aims to discuss the issues related to the protection of investors and the prevention of cybercrimes.

The ongoing token is expected to be issued with the help of the Thai crypto exchange, Bitkub. The tourism authority believes the yet-to-be-created ecosystem will increase the Thai GDP six times. As of today, the country’s GDP equals $501.8 billion which places Thailand in the 25th position in this ranking. The potential 600% increase may let the country enter the top-5, overrunning the UK, France, and Canada.

Topp Jirayut Srupsisopa, Bitkub CEO, is convinced that Thailand is ready for this step: “The business sector will be pleased to unlock the opportunity and create a reliable infrastructure. The government just should press the button. The national GDP would allegedly grow 6 times.”

The TAT head, Jutasak Supasorn, highlights that crypto tourism may help the national tourism sector recover after the pandemic. TAT Coin will be claimed to deliver funds to touristic companies, avoiding the third parties and high fees.