Thailand’s Blockchain Future: TIDC Appoints Movement Labs’ Rushi Manche and Dao5’s Tekin Salimi as Advisors
The Thailand International Digital Business & Finance Center (TIDC) has taken a major step towards advancing its blockchain infrastructure by appointing Movement Labs co-founder Rushi Manche and Dao5 founder Tekin Salimi as advisors. Their inclusion is expected to foster the growth of Thailand’s digital finance sector and establish the country as a leading regional hub for blockchain innovation.
Thailand’s Strategic Focus on Blockchain
Thailand has shown increasing interest in blockchain technology and cryptocurrency in recent years. The TIDC, which operates under the supervision of the Ministry of Digital Economy and Society and the National Telecom Public Company Limited, aims to bolster Thailand’s digital economy by promoting stablecoin infrastructure, decentralized finance (DeFi) solutions, and regulatory advancements.
With blockchain technology revolutionizing global financial systems, Thailand is keen on leveraging this innovation to modernize its economic landscape. The country has been actively exploring ways to integrate blockchain technology into government operations, financial institutions, and businesses.
Role of the Newly Appointed Advisors
TIDC’s Director, Wai Man Raymond Chu, emphasized that the collaboration with Rushi Manche and Tekin Salimi comes at a crucial moment as Thailand is transitioning into the era of digital finance. Their expertise is expected to be instrumental in shaping the country’s blockchain policies and ensuring robust security frameworks.
Tekin Salimi – Dao5 Founder
Tekin Salimi, the founder of Dao5, has been a significant player in the cryptocurrency industry. His role as a TIDC advisor will involve guiding Thailand on how to position itself as a key blockchain investment hub. By offering expertise in decentralized autonomous organizations (DAOs) and Web3 funding mechanisms, he will aid in the creation of policies and regulatory frameworks that align blockchain technology with Thailand’s financial sector.
The goal is to ensure a sustainable and secure integration of blockchain into Thailand’s financial ecosystem. Salimi’s contributions will also support Thailand’s long-term vision of building a competitive digital economy and attracting global investments in the crypto space.
Rushi Manche – Movement Labs Co-Founder
Rushi Manche, co-founder of Movement Labs, will focus on developing a secure and scalable blockchain environment in Thailand. With expertise in blockchain security and smart contract programming, Manche is expected to play a crucial role in fortifying Thailand’s blockchain infrastructure against cybersecurity threats.
Thailand aims to create a financial ecosystem that is not only advanced but also resistant to security vulnerabilities. Given that Movement Labs is in discussions with Elon Musk’s Department of Government Efficiency (DOGE), Manche’s involvement with TIDC could lead to valuable knowledge transfer from the latest blockchain innovations in the United States. His work with DOGE may provide insights into reducing government operational costs and enhancing transparency in Thai government operations.
Thailand’s Growing Crypto Initiatives
Thailand has been proactively working towards integrating cryptocurrency into its financial sector. The Securities and Exchange Commission (SEC) of Thailand has been deliberating on approving Bitcoin exchange-traded funds (ETFs) as the number of active crypto accounts approaches 300,000. This move would mark a major milestone for Thailand’s digital asset sector, enabling mainstream investors to engage with cryptocurrency through regulated financial instruments.
Additionally, Thailand’s former Prime Minister, Thaksin Shinawatra, has long been an advocate of cryptocurrency adoption. He previously encouraged the government to take a more favorable stance toward blockchain technology and proposed launching a crypto sandbox in Phuket to test blockchain applications in a controlled environment.
DLT-Based Trading Platforms in Thailand
On February 3, 2025, the Thai SEC announced plans to develop a distributed ledger technology (DLT)-based trading platform. This initiative will allow securities firms to participate in digital token markets, further integrating blockchain into Thailand’s traditional financial systems. The project aims to increase efficiency, enhance security, and attract global blockchain investors.
By implementing DLT-based trading platforms, Thailand will enable seamless transactions and improve transparency in financial markets. This move aligns with global trends, where countries like Singapore and South Korea have already established robust digital asset exchanges using blockchain technology.
Thailand’s Blockchain Regulatory Framework
Regulatory clarity is crucial for the growth of blockchain and cryptocurrency markets. Thailand has been making steady progress in drafting comprehensive blockchain regulations that balance innovation with investor protection. The TIDC’s collaboration with Salimi and Manche will further refine these policies to create a secure and business-friendly environment for blockchain enterprises.
Thailand’s approach to crypto regulations has been evolving. In 2021, the country imposed strict licensing requirements for digital asset businesses to ensure investor safety. More recently, regulators have been exploring frameworks that encourage institutional adoption while mitigating risks associated with digital assets.
Blockchain’s Role in Thailand’s Economic Transformation
The adoption of blockchain technology in Thailand is expected to drive economic transformation in multiple sectors. Some of the key areas where blockchain will have a significant impact include:
1. Financial Services and Banking
Blockchain-based payment systems and stablecoins can facilitate faster and more cost-effective cross-border transactions. By integrating decentralized finance (DeFi) solutions, Thailand can offer financial services to the unbanked population, improving financial inclusion in the region.
2. Government Operations and Public Services
The potential integration of Movement Labs’ blockchain technology into Thai government operations can streamline bureaucratic processes, reduce fraud, and enhance transparency. Smart contracts could automate various administrative functions, improving efficiency in governance.
3. Supply Chain and Trade
Thailand’s robust trade sector can benefit from blockchain-based supply chain management systems. These solutions can improve traceability, reduce fraud, and enhance efficiency in industries such as agriculture, manufacturing, and logistics.
4. Tourism and Digital Identity
As a major global tourist destination, Thailand could implement blockchain-based digital identity solutions to enhance security and streamline processes for international travelers. This technology could also enable seamless digital payments across tourism-related services.
Challenges and Future Outlook
Despite Thailand’s proactive approach to blockchain adoption, challenges remain. Regulatory uncertainties, cybersecurity risks, and infrastructure scalability are some of the primary hurdles that need to be addressed. The expertise of newly appointed advisors Salimi and Manche will be instrumental in tackling these challenges and ensuring a smooth transition toward a blockchain-powered economy.
Thailand’s vision of becoming a global blockchain leader will require continuous collaboration between the government, private sector, and international blockchain experts. By focusing on innovation, regulatory clarity, and cybersecurity, Thailand can position itself as a key player in the digital finance revolution.
Conclusion
The appointment of Rushi Manche and Tekin Salimi as advisors to the TIDC marks a significant step in Thailand’s blockchain journey. Their expertise in blockchain security, investment, and regulatory frameworks will help shape Thailand’s digital finance future. With ongoing initiatives in cryptocurrency adoption, stablecoin infrastructure, and government blockchain integration, Thailand is on track to becoming a global blockchain hub.
As Thailand continues to embrace blockchain technology, its economic transformation will open new opportunities for businesses, investors, and technology developers. The strategic vision set forth by TIDC and its advisors will determine the success of Thailand’s blockchain-driven digital economy in the years to come.
