While the CBDC race of the countries was going on, an interesting news came from Thailand on the subject. Central Retail Corp., the largest mall developer in the country, has decided to use its own crypto as a means of payment in its malls and restaurants.
The name of the cryptocurrency under testing is C-Coin. C-Coin, which has been in the sandbox phase so far, has already been distributed to 80,000 employees. The crypto money in question can be used for payments in many shopping centers and restaurants within the scope of Central Retail.
Thailand’s biggest shopping center developer is piloting a digital currency among its employees with plans to expand the offering to customers https://t.co/CCOA74O8hq
— Bloomberg Crypto (@crypto) October 28, 2021
Kowin Kulruchakor, who heads the office at Central Tech, stated that C-Coin, which is currently only used by company employees, can also be offered to ordinary citizens if it shows the expected performance.
He stated that if the goals set for C-Coin are met, Central Retail Corp. could start providing its customers and partners so that they can pay for its goods and services with it.
On the other hand, the innovation team continues to work to avoid any problems during the use of the coin. The way C-Coin will be presented to the public has not yet been decided. However, according to Kulruchakor, C-Coin can also be listed on exchanges and used for trading.
Considering that the company owns multiple stores and businesses in Thailand, as well as the Italian shopping mall La Rinascente, the Danish retailer Illum and the Vietnamese Big C supermarket chain, it would not be wrong to say that the future use of C-Coin has great potential. . On the other hand, this situation is also very valuable in terms of showing how usable other cryptocurrencies are now in daily life.