According to the news, today Omise and the country’s Ministry of Digital Affairs had signed a Memorandum of Understanding. The two parties will collaborate to develop a nation-wide digital identity verification and online payment system.
With the use of Omise infrastructure, the Thai government will provide its citizens with a National Digital ID. It will reduce fraudulent behavior online and protect consumers. The system will also make online transactions more convenient, faster and more efficient.
OmiseGO founder Jun Hasegawa stated in his Twitter that the positive impact blockchain technology could have on Thai citizens.
At the moment, governments all over the world are weighing up blockchain advantages. The implementation of blockchain technology will likely take several years. However, today’s announcement is a sign that blockchain integration can be made much more quickly. Digital identity verification is a central concern for governments, who are worried that cryptocurrency offers a way for individuals to circumvent financial legislation.