The advent of blockchain technology has revolutionized the financial sector, offering decentralized and transparent solutions that enhance efficiency and security. One of the most promising applications of this technology is the development of Central Bank Digital Currency (CBDC), a digital form of national currency issued by a central bank. CBDCs have the potential to improve the efficiency of payment systems, increase financial inclusion, and enable real-time monitoring of monetary transactions. In addition, blockchain technology can address many of the challenges associated with cross-border payments, such as high transaction costs, long settlement times, and the involvement of multiple intermediaries.
In Vietnam, the banking industry plays a crucial role in the country’s economic development, particularly in facilitating international trade and investment. However, the current payment infrastructure faces limitations, especially when it comes to cross-border transactions. The traditional banking system relies heavily on correspondent banking networks, leading to inefficiencies in terms of cost, speed, and transparency. To address these challenges, the State Bank of Vietnam (SBV) has been exploring the potential of CBDCs to modernize the country’s payment systems and improve cross-border payment efficiency.
This dissertation aims to investigate the application of blockchain technology for the implementation of CBDC and cross-border payments within Vietnam’s banking industry. It will explore the technical, regulatory, and economic implications of adopting blockchain-based CBDCs in Vietnam and propose a comprehensive framework for their integration into the existing banking system. The research will also assess the potential benefits and risks associated with blockchain technology for cross-border transactions and its alignment with Vietnam’s economic goals.
I HAVE DONE SOME RESEARCHERS, AN EXCEL, FRAMEWORK FOR THE DISSERTATION. THE WORK NOW IS JUST WRITING. PLEASE HELP ME I’M IN URGENCY.