Cryptocurrency Risk, Trust, and Acceptance in Thailand: A Comparative Study with Switzerland
Abstract
The adoption of the Pao Tang digital wallet in Thailand, promoted under the Khon la Krueng (50-50 Co-Payment) Scheme, illustrates Thailand's receptiveness to digital financial instruments, amassing over 40 million users in just three years during the COVID-19 social distancing era. Nevertheless, acceptance of this platform does not confirm a broad understanding of cryptocurrencies and Web 3.0 technologies in the region. Through a mix of documentary research, online surveys and a targeted interview with the Pao Tang app's founder, this study evaluates the factors behind the Pao Tang platform's success and contrasts it with digital practices in Switzerland. Preliminary outcomes reveal a pronounced knowledge gap in Thailand regarding decentralized technologies. With regulatory frameworks for Web 3.0 and digital currencies still nascent, this research underscores the need for further exploration, serving as a blueprint for shaping strategies, policies, and awareness campaigns in both countries.
Keywords
Cite
@article{arxiv.2405.05086,
title = {Cryptocurrency Risk, Trust, and Acceptance in Thailand: A Comparative Study with Switzerland},
author = {Kanyanut Suriyan and Tim Weingaertner},
journal= {arXiv preprint arXiv:2405.05086},
year = {2024}
}
Comments
21 pages