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30th Oct 2020
CryptoAltum Research Team

Ethereum’s ConsenSys will Help the Bank of Thailand Develop a CBDC

ConsenSys, a company and an appendage of Ethereum that helps develop its ecosystem, is the technology partner for the Bank of Thailand. It will now help the central bank develop a retail CBDC prototype, the digital Baht. Other partners include the Siam Cement Group and its subsidiary, Digital Ventures (DV).


The selection of Ethereum development for the spearheading of the CBDC initiative in Thailand shows how developed, mature, and trusted ConsenSys--and by extension Ethereum, is. While the project would be run from a private chain, not the pioneer smart contracting platform, its quality is evident. Already, ConsenSys is developing Teku, an Eth2 client for enterprises.

Impact on the ETH Price: 

Neutral to Bullish. Until now, traders have been watching on-chain developers in Ethereum as anchors for making investment decisions. However, the selection of Ethereum partners is bullish, hinting at the quality of developers helping improve and fine-tune the Ethereum platform.

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