Thailand’s cryptocurrency gold rush | Unreported World



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Unreported World is on the forefront of Thailand’s cryptocurrency boom where farmers and traders alike are going crazy for digital currencies that can lead to both riches and ruin. In Bangkok, on the Wild-East’s crypto frontier, a young multi-millionaire CEO is pushing for his country to embrace the crypto-revolution. He has influential allies but he’s also up against powerful adversaries who warn of looming financial catastrophe.

The pandemic has left many in Thailand cash-strapped and jobless. Millions, predominantly young Thais, are turning to crypto to boost their fortunes. But cryptocurrency trading has its dangers. It’s volatile, with prices rising and falling dramatically, and it’s prone to scammers and market manipulation. This has led some countries to outlaw crypto transactions completely. But, for now, Thailand remains a crypto-friendly nation, keen to harness new blockchain innovations which promise to usher in a new technological era.

But not everyone is a winner. In the back streets of Bangkok we meet a man who made and lost nearly a million US dollars within a few months. With his initial investments now worthless, the 23 year-old warns that those who seek instant fortunes could be risking it all.

Reporter: Jonathan Miller
Producer/Director: Anneliese McAuliffe
Series Producer: Andy Lee
Executive Producer: Ed Fraser
Production Company: Channel 4 News

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Category
Cryptocurrencies
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