## 5 A Review of Blockchain Projects in Thailand
### Characteristics of Blockchain Project Implementation in Thailand  
We investigated which types of stakeholders were involved in each domain of projects in order to understand blockchain project management in Thailand. A total of 220 stakeholders from 54 projects were classified into 4 types: banks, firms, government, and independent organizations. First, banks refer to financial institutions. Due to their large number, banks were considered one of the biggest stakeholder types. Second, firms refer to for-profit organizations. Third, government refers to any non-profit organization aiming for public benefit. Last, independent organizations refer to those organizations not governed by other parties. Examples of independent organizations include a university, an association, or an organization who took a neutral stand. As shown in Figure 14, blockchain projects in 9 out of 15 domains (attributing to 89 percent of all blockchain projects in Thailand) involved more than one type of stakeholders. The top two largest project domains, finance and government services, involved up to four types of stakeholders. It shows that various sectors were attracted to the blockchain technology. The biggest adopter of blockchain technology across domains in Thailand was the firms, whereas the banks are an important player in finance and government services. A lot of stakeholders from various sectors were involved in blockchain project implementation in Thailand. Unlike a variety in types, the number of stakeholders per project was not very high. In Figure 15, most blockchain projects were conducted by a few stakeholders. It can show that the majority of blockchain projects in Thailand were small projects due to a small number of stakeholders. Only a financial project in the national scale took nearly 40 stakeholders from a collaboration of domestic and international financial institutes [44; 45; 46; 47; 48]. \begin{table}
\begin{tabular}{p{113.8 pt} p{113.8 pt} p{113.8 pt} p{113.8 pt}} \hline \hline
**Domains** & **Number of Projects** & **Percentage** & **Description** \\ \hline Finance & 23 & 42.6 & Actions relating finance e.g., letter of guarantee, letter of confirmation, domestic and international transfer, digital currency, bonds, and gold investment \\ \hline Government services & 8 & 14.8 & Services delivered by a government e.g., tax refund, procurement, fee payment, NDID, identity verification, and voting \\ \hline Trade, Logistic, Supply chain & 4 & 7.4 & Trade, logistics, procurement in supply chain industry, and financial transactions relating to trading \\ \hline Energy & 4 & 7.4 & An exchange or trade of energy including an issue of renewable energy certificates \\ \hline Healthcare & 3 & 5.6 & Medical information management such as medical history \\ \hline Intellectual property & 2 & 3.7 & Intellectual property management including registration, copyright infringement protection, etc. \\ \hline Agriculture & 2 & 3.7 & Agricultural traceability and commerce \\ \hline Law & 1 & 1.9 & Applications relating to law such as case law management \\ \hline Insurance & 1 & 1.9 & Applications relating to insurance \\ \hline Image verification & 1 & 1.9 & Image storage and fraud detection of images \\ \hline Human trafficking & 1 & 1.9 & Applications in human trafficking \\ \hline Education & 1 & 1.9 & Applications for educational purposes such as educational document verification \\ \hline Digital asset & 1 & 1.9 & Actions relating to digital assets \\ \hline Construction & 1 & 1.9 & Applications in construction \\ \hline Blockchain-as-a-service & 1 & 1.9 & A service that provides ready-to-use blockchain platform for users, not relevant to blockchain architecture design \\ \hline \hline \end{tabular}
\end{table} 
Table 5: A table explaining domain classification. Figure 16 shows top stakeholders of all blockchain projects. Krumgthai Bank, a bank under Thai government, involved the most in blockchain project implementation in Thailand.