On 7–8 July 2025, NXPO organized a workshop to assess the techno-economic feasibility of applying blockchain technology to Thailand’s crop insurance system. The event was formally opened by Dr. Surachai Sathitkunarat, President of NXPO, who welcomed international experts from the Blockchain & Climate Institute (BCI), United Kingdom, led by Mr. Alastair Marke, Director-General, alongside the Thai research team from the School of Global Studies of Thammasat University, Greater Mekong Subregion Study Center of Nakhon Phanom University, and the Faculty of Agriculture of Chiang Mai University. The workshop provided updates on the ongoing project, “Blockchain Technology for a Real-Time Climate Risk Insurance System in Thailand’s Agricultural Sector,” supported under the first phase of the Adaptation Fund Climate Innovation Accelerator (AFCIA I) with technical assistance from the Climate Technology Centre and Network (CTCN), in collaboration with the United Nations Environment Programme (UNEP) and the Adaptation Fund. The project aims to lower operational costs, improve transparency, and enhance the resilience of Thai farmers in accessing agricultural insurance services.
Key objectives of the workshop included: 1) Presenting preliminary analyses of Thailand’s agricultural sector, findings from farmer surveys, and outcomes from a preparatory workshop held on 13–14 January 2025; 2) Exploring the technical feasibility of a Blockchain-based Parametric Insurance (BBPI) system to increase transparency and enable timely claim settlements for farmers; 3) Assessing economic viability, through business model analysis, demand and pricing forecasts, financial sustainability, and the development of a sustainable operational framework; and 4) Formulating an implementation roadmap for a pilot project and proof-of-concept (PoC), alongside capacity-building and sandbox initiatives to support future deployment.
In the closing session, Assoc. Prof. Wongkot Wongsapai, Vice President of NXPO, expressed appreciation to all participants, including representatives from key agencies involved in Thailand’s crop insurance system — the Office of Agricultural Economics (OAE), Bank for Agriculture and Agricultural Cooperatives (BAAC), Rice Department, Geo-Informatics and Space Technology Development Agency (GISTDA), National Electronics and Computer Technology Center (NECTEC), and the Electronic Transactions Development Agency (ETDA).
The workshop generated valuable insights and recommendations that will inform the further development and implementation of blockchain applications in Thailand’s crop insurance system. These findings will be submitted to relevant committees and working groups under the Ministry of Agriculture and Cooperatives for consideration.
