Thailand is a country rich in heritage and attractions that has been one of the most popular destinations with travellers for years. The nature of Thailand’s roads and the popularity of moped and motorcycle travelling among tourists has prompted the government to take a proactive stance on ensuring the safety and wellbeing of visitors. This new move poses interesting implications for the blockchain industry.
Proactive approach to tourist safety
Road traffic accidents involving tourists have increased to high levels in recent years, primarily because of the popularity of two-wheeled transport combined with the teeming roadways of the country. The Thai authorities are considering making travel and health insurance compulsory, which can be purchased at the airport upon arrival.
Blockchain’s future in Thailand
This is coincidentally coming at a time when the Thai authorities are becoming more interested in blockchain’s potential for making tourist stays more efficient and comfortable. Insurance is one area that commentators have long seen blockchain play an important role in the coming years.
Ledger technology has obvious overlap with the business processes involved in insurance. From premium calculation to shopping for policies to the actual insurance payout, the rule-based nature of ledger technology lends itself readily to the strict environment of insurance. In a blockchain-leveraged future, customers could have a universal insurance data repository that can be seamlessly integrated with different insurance providers. See: Thailand ETDA Phase 2 framework.
OneID in the future
ShareRing is well-placed to provide exactly these kinds of connections between providers and users. The OneID system provides the ease of oversight that blockchain applications for insurance crave. A central but decentralised and completely trustless system that gives users the ability to seamlessly interface with different insurance entities, both governmental and non-governmental. See: TKC Alliance and ShareRing in Thailand.
Visa now, insurance later
In fact, ShareRing already has a close relationship with the Thai government in that they have been selected as one of the few companies authorised to issue the new eVisa system that travellers now purchase on their way into the country. This system makes life easier for both the tourist and customs officials. In ShareRing’s case, it leverages ledger technology to make the process more secure and smoother at the same time. See: ShareRing Me.
Where we sit.
ShareRing has been building this technology since 2018. The encrypted Vault and self-sovereign ID model we put in the original whitepaper are the same architecture under everything we deploy today.
If you want to discuss privacy KYC at country scale, the door is open at sharering.network/contact.
By ShareRing Team of ShareRing.
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