Thailand Opposition Leader Vows $300 Crypto Airdrop If Elected Prime Minister – Here's What You Need to Know
The opposition leader of Thailand has promised to airdrop 10,000 baht ($300) in digital currency to anyone 16 or over should his Pheu Thai Party win the next election.
On Wednesday, real estate mogul turned candidate Srettha Thavisin announced the $300 handout policy in the heavily populated central Thai province Nonthaburi, according to a report by the Bangkok Post.
Paetongtarn Shinawatra, Pheu Thai's chief adviser on public participation and innovation, claimed the policy is part of a blockchain-based project designed to distribute Thai products abroad and help introduce digital currencies to Thailand.
The $300 airdrop will need to be spent within a 4-kilometer community radius in six months.
Shinawatra said the policy is designed to make Thailand an Asian fintech hub while spurring the development of its economy.
He explained that the funds would be invested in local areas for people to use within several months after receiving them, although critics slammed the initiative for lacking transparency and not clearly outlining the funding sources.
“Our country has been economically bruised over the last eight years, with less income and more expenses for the people,” Thavisin was quoted by Bloomberg as saying.
“The current government has been feeding IV drips with small money handouts. That’s not the right way and doesn’t stimulate the appropriate and right economic growth.”
The policy has been criticized as a vote-winning gimmick, with some experts noting that there is no clear funding source to cover the initiative.
Waiwit Thongthongkham, a commercial bank employee, acknowledged that people like the prospect of free money from the authorities, but questioned where it would come from.
Pundits have also pointed out that Pheu
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