Digital Currency for Payments

Abstract

This qualitative research aimed to collect users’ opinions on the use of digital currency for the payment of goods and services. A narrative synthesis was employed. Moreover, a document collection and literature review related to digital currency were conducted as a supplemental source of information for a detailed explanation. Thus, documentary method and content analysis via systematic review were used to analyse the data. This study focused on a discussion of three major types of digital currencies: central bank-issued cash, Bitcoin, and privately issued digital currencies. The results indicated that the use of digital currencies in Thailand became popular. Bitcoin was one of the first cryptocurrencies to become known to the public, primarily operating based on computer systems and the Internet. Many countries have invented their own digital currency to spend and ensure the stability of money, leading to more easily controlled systems. However, if the government can manage to solve the problem of payment for goods and services through digital currency, namely by encouraging, preparing and pushing for its use, as well as promoting the knowledge and understanding of digital currency, tax-reduced or tax-free cryptocurrency and pushing to use digital currency, the economy and the movement of the trading economy will be even more affected by the government’s management mentioned above.