Vietnam’s central bank to pilot ‘virtual currency’

Prime minister orders central bank to develop blockchain-based prototype by 2023

State Bank of Vietnam, Hanoi

Vietnam’s prime minister, Pham Minh Chinh, has instructed the country’s central bank to develop a “virtual currency” based on blockchain within the next three years.

On June 15, Chinh published a plan for the development of an “e-government” in a state document. 

As part of the plan, the State Bank of Vietnam will “research, develop and pilot a virtual currency” by 2023.

The document did not provide further details of how the virtual currency will be designed or issued.

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