Ep.42 RISING OF CRYPTOCURRENCIES & DIGITAL ASSETS
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"First on air 23 April 2022"

A cryptocurrency is a series of code, which consists of letters and numbers, created by mining in computer networks that is managed through a digital ledger known as blockchain. Blockchains are the technology that created Bitcoins, and Bitcoins are currently the most popular cryptocurrency globally and in Thailand. Cryptocurrencies are a type of digital tokens, and can be used as a medium of exchange, meaning they can be used to buy products and services in the virtual world. But it cannot be used as fiat currency, or the banknotes and coins we use in our daily life, yet. As of April 2022, CoinMarketCap.com, a website that tracks global trading of crypto assets, showed that the market capitalization of all cryptocurrencies has exceeded two trillion U.S. dollars. This is a growth from less than one trillion dollars just a few years ago. In Thailand, cryptocurrencies started to attract investors in large amount in 2017. In the following year of 2018, Thailand enacted a law to regulate businesses of digital assets in the country. In the period of five years until 2022, the number of accounts registered in digital assets market in Thailand has soared over 13-fold from fewer than 200,000 accounts to the current 2.7 million accounts. Discussing issues of cryptocurrencies and digital assets in this episode are Asst. Prof. Dr. Voraprapa Nakavachara of Faculty of Economics, Chulalongkorn University, and Jomkwan Kongsakul, assistant secretary-general of Thailand’s Securities and Exchange Commission.