Tag: digital currency

While other countries are racing to research and test a central bank digital currency (CBDC), Vietnam remains quite slow in this regard. In order for its economy to not be left behind, Vietnam must make greater efforts to join the movement. With a young population, high internet coverage, and the popularity of mobile devices, Vietnam has a solid foundation for the success of a CBDC.

The Vietnamese Government has assigned the State Bank of Vietnam to lead research into and implement the use of digital currency based on blockchain technology in the 2021-2023 period. This is viewed as a major step forward in the country staying abreast of global trends in Central Bank Digital Currency (CBDC).