Has the Thai government also started 'issuing tokens'?
Latest news: The Thai Ministry of Finance is preparing to issue 5 billion baht (approximately 150 million USD) G-Token within 2 months, claiming it is to test market reactions.
🔍 Here comes the key point:
This is neither a bond, nor a stablecoin, and definitely not a CBDC.
But it doesn't resemble a meme coin, nor does it look like a Web3 revolution.
So what is it? Currently, no one can say for sure.
Although G-Token sounds like 'Governance Token', the officials have not clarified its purpose and have not explicitly stated whether it is related to the government-supported stablecoin project proposed by former Prime Minister Thaksin.
🧠 My observation is as follows:
This seems very much like the Web2 government trying to dabble in the edge narratives of Web3, to see if the market will accept it.
Entering with an ambiguous term like 'non-debt instrument' indicates that the government is still testing the waters and is reluctant to fully move money onto the blockchain.
If the test is successful, G-Token could very likely become a new narrative of **'Digital National Debt + In-System DeFi'**.
📌 Conclusion:
This may not affect token prices, but it will influence the narrative.
When the government starts issuing tokens, it signifies that: Web3 is still on the edge but has already become impossible for traditional finance to ignore.
The next focus should not be on G-Token itself, but on who will follow suit?
Will Singapore, the UAE, or South Korea one day issue a 'stable with blockchain' national-level experimental product?
