Thailand Post Will Begin Using Blockchain Tech This Year
The State Railway of Thailand and Thailand Post will reportedly develop and apply blockchain and Internet of Things (IoT) technology as early as 2017’s end.
According to a report today by the Bangkok Post , the State Railway of Thailand (SRT) and Thailand Post, both state-owned operators of the country’s railways and postal services respectively, are implementing decentralized innovation to improve their logistics operations in the country.
Thailand Post could adopt and use blockchain technology for high-value packages including luxury items by the end of 2017 or early 2018, according to its director Thitipong Nandhabiwat.
He further stated:
Blockchain is secure and trusted as only authorized persons are allowed to open parcels.
The increase in blockchain development and adoption in Thailand comes at a time when the country’s national stock exchange operator is also working toward launching a trading marketplace for startups over a blockchain. Over 600 companies registered with the Stock Exchange of Thailand (SET) after expressing interest in the blockchain marketplace soon earlier this year.
The SRT is specifically looking at developing a dedicated communications system, enabling the operator to gain real-time details of the exact arrival times of trains. Dedicated IoT devices in trains will help inform travelers in stations of any possible train delays. In the event of an accident or breakdown, the device will also help authorities stop any approaching trains in time to avoid disasters.
Speaking at a seminar this week, SRT chief information officer, SRT’s chief information officer Sirima Hiruncharoenvate revealed:
The SRT will invest 1 billion baht (approx. $30 million) over the next three years to upgrade its information and communications technology.
The decision to splash the cash to upgrade the railway network’s communications infrastructure comes after Thailand’s telecom regulator specifically approved the 800-9000 Mhz spectrum for a wireless railway communications system.
Featured image from Shutterstock.
