Exploring blockchain projects for innovation: an explorative study of blockchain projects in Thailand through the lens of environment, social and governance between 2017 to 2021

This study examines blockchain projects in Thailand through the lens of environmental, social and governance between 2017 to 2021 to deliver an array of cases that may serve to inform researchers, officials, and developers on the blockchain-based projects that exist in Thailand. The objectives are divided into; 1) discovering what blockchain projects are under way in Thailand 2) categorizing blockchain projects in Thailand through the lens of environmental, social, and governance (ESG) criteria 3) analyzing the domestic challenges that Thai blockchain developers are facing while attempting to solve social, environmental, and governance problems. In total, nine case studies were undertaken to deliver results with a range of technologies, in a diversity of sectors, and representing various project scopes and sizes. The Thai blockchain space is rapidly evolving, and governmental support is still lacking. The results show that of the nine projects examined, most projects lack governmental support, despite some of the selected projects being created to solve governance related issues. Moreover, none of the projects are being used in real world applications and remain in development rather than implementation. The Thai government could support blockchain-based developers in Thailand through educational courses in public universities, fostering collaboration with innovative foreign firms, and increasing democratized access to technological capacity-building opportunities for Thai start-ups.