BANGKOK, THAILAND – A landmark feasibility study has been launched to explore the use of blockchain technology for a real-time climate risk insurance system, aiming to transform the resilience of Thailand’s vital agricultural sector.

This pioneering initiative is a collaborative effort between several national and international powerhouses: the National Higher Education, Science, Research and Innovation Policy Council (NXPO), Thammasat University’s School of Global Studies, the Blockchain & Climate Institute, and the United Nations Climate Technology Centre & Network (CTCN).

The Challenge: Protecting a Vulnerable Sector

Thailand’s agricultural sector, the backbone of its economy and food security, is increasingly vulnerable to extreme weather events caused by climate change. Traditional insurance systems can often be slow, opaque, and inaccessible to smallholder farmers. This project directly addresses these challenges by investigating a high-tech, farmer-centric solution.

A Vision for a Climate-Resilient Future

This collaborative study is more than just a technological exploration; it’s a step towards a more secure and sustainable future. By empowering farmers with better risk management tools, the initiative seeks to strengthen national food security and support Thailand’s sustainable development goals.

The partners are united in their mission to turn this cutting-edge technology into a tangible, real-world solution that builds a truly climate-resilient future for the nation’s agricultural community.