Connect with us

Tech

Thailand opens 1st Digital ID Symposium

The event is featuring discussion sessions with international experts from countries such as India, Estonia, and Singapore, regarding the development of a digital personal identification and verification system or Digital ID.

National News Bureau of Thailand

Published

on

BANGKOK, 29 June 2019 (NNT) – Good progress has been made recently in digital personal identification systems. The Ministry of the Digital Economy and Society (MDES) is set to pilot a Digital ID system with financial institutions ensuring highest security protection in services.

Loading...

The Electronic Transactions Development Agency (ETDA) has joined hands with government agencies and private companies to hold the Thailand Digital ID Symposium 2019 event aimed at unlocking Thailand’s digital economic potential by learning from successful Digital ID system implementations in foreign countries

The event is featuring discussion sessions with international experts from countries such as India, Estonia, and Singapore, regarding the development of a digital personal identification and verification system or Digital ID.

The Minister of the Digital Economy and Society, Pichet Durongkaveroj said today the government is pushing Thailand towards a digital economy, by promoting safe, fast, and secure online transactions using a Digital ID infrastructure. The government has enacted many digital-related bills enabling integration of government data, and allowing the general public to receive better, faster, and more convenient services from government agencies.

The new connectivity allows a government agency to access data from other government agencies, and the general public is only required to present their ID card for verification in most cases, reducing the use of paper.

The Digital ID infrastructure will allow for completely online One Stop Service transactions without putting any burden to the general public. Non-classified government data will also be disclosed, benefiting the private sector especially startup businesses and ensuring transparency.

The Digital ID system is being rolled out in pilot phase at banks and financial institutions. It will be used initially to open new bank accounts under personal data protection regulations from government agencies. The system will also be introduced at other agencies in the future.

Presentation slides of the event or available here

Source link

Comments

Ecommerce

How will oil prices shape the Covid-19 recovery in emerging markets?

Oxford Business Group

Published

on

How will oil prices shape the Covid-19 recovery in emerging markets?
– After falling significantly in 2020, oil prices have returned to pre-pandemic levels
– The rise has been driven by OPEC+ production cuts and an improving economic climate
– Higher prices are likely to support a rebound in oil-producing emerging markets
– Further virus outbreaks or increased production would pose challenges to price stability

Loading...

A combination of continued production cuts and an increase in economic activity has prompted oil prices to return to pre-pandemic levels – a factor that will be crucial to the recovery of major oil-producing countries in the Middle East and Africa.

Brent crude prices rose above $60 a barrel in early February, the first time they had exceeded pre-Covid-19 values. They have since continued to rise, going above $66 a barrel on February 24.

The ongoing increase in oil prices, which have soared by 75% since November and around 26% since the beginning of the year, marks a dramatic change from last year.

Following the closure of many national borders and the implementation of travel-related restrictions to stop the spread of the virus, demand for oil slumped globally.

In the wake of the Saudi-Russia price war in early 2020, Brent crude prices fell from around $60 a barrel in February that year to two-decade lows of $20 a barrel in late April, as supply increased and demand plummeted. The value of WTI crude – the main benchmark for oil in the US – fell to record lows of around $40 a barrel last year on the back of a lack of storage space.

While global demand for oil remains low, one factor credited with reversing the trend is the decision to make significant cuts to oil production, which subsequently tightened global supplies.

Read More

Continue Reading

Tech

How the Rural-Urban Divide Plays Out on Digital Platforms

It is one thing for entrepreneurs, whether urban or rural, to create and operate an online store, as some digital platforms have made it relatively easy to manage an e-store – even by using just a smartphone.

Avatar

Published

on

In the West, villages are emptying out due to the lack of economic opportunities. Consider Italy where, in a bid to attract newcomers, a handful of municipalities have turned to selling houses for €1.

Loading...
(more…)

Continue Reading

Ecommerce

Will South-east Asia’s tech giants turn to SPACs to boost post-pandemic growth?

Oxford Business Group

Published

on

Will South-east Asia’s tech giants turn to SPACs to boost post-pandemic growth?
– SPACs have become a hot-button topic in global finance
– The vehicle is widely used to help tech start-ups go public
– Both Singapore’s and Indonesia’s exchanges are set to allow SPACs
– Several South-east Asian tech unicorns may use SPACs to list publicly

Loading...

South-east Asia is seeing a wave of interest in special purpose acquisition companies, or SPACs, with various major tech players considering them as a means to fast-track public listings. In parallel to this, several exchanges in the region are moving to allow SPAC listings, with a view to boosting post-coronavirus growth.

SPACs are shell companies set up by investors and then listed on a given stock exchange. Their sole function is to acquire a private company, enabling it to go public without having to go through a traditional initial public offering (IPO).

A SPAC does nothing beyond its essential function – it neither produces nor sells anything, and a SPAC’s only assets are the funds raised from its own IPO.

Crucially, people who buy into a SPAC do not know what its eventual acquisition target or targets will be. This is why SPACs are often referred to as “blank cheque companies”: they give the founders a free rein to back their choice of private company. A key feature of SPACs is that they are often headed by big-name business executives or fund managers, who trade on past successes to inspire trust in investors.

While they are far from a novel phenomenon, SPACs have become a hot button topic in recent times: SPAC initial offerings quadrupled last year, with the vehicles raising a record $80bn.

Merging with a SPAC enables a company to go public and raise capital more quickly and painlessly than with a traditional IPO, circumventing some of the volatility that Covid-19 unleashed on global markets. At the same time, they function rather like venture capital, helping investors to buy into high-growth start-ups on the ground floor.

Read More

Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,955 other subscribers

Latest

Trending