BOT Regulatory Sandbox | Public Institutions

This compendium, prepared by the Division for Public Institutions and Digital Government (DPIDG) of the United Nations Department of Economic and Social Affairs (UN DESA), aims to capture emerging trends in digital responses of UN Member States against the COVID-19 pandemic along with other digital government initiatives and provide a preliminary analysis of their main features. These cases are shared for exchange of information so that Member States can learn from each other and possibly create new partnerships.

This regulatory sandbox is open to any fresh, never-seen-before innovation with in-built safety measures and aims at benefiting the people of Thailand. The innovations stay in the sandbox for 6 to 12 months. One of the successful projects under this sandbox is PromptPay’s QR Code payment (Standardized QR Code for payment). It is a real-time fund transfer system involving 6 key technologies: QR Payment, Blockchain and Distributed Ledgers, Biometrics, Big Data, Machine Learning and Standard Application Programming Interfaces (APIs). The QR Code can be used for any mobile applications, multiple payment instruments, all merchants, open infrastructure and cross-border payments.

Country

Thailand

Institution

Bank of Thailand (BOT)