Xin chào! Andy here, Vietnam Country Manager for BBOD. I welcome you all to this BBOD monthly report for the S-shaped country! We will guide you away from “latest news” to take a deeper look at what actually happens all over the world, with local insights and knowledge none to be found in any news portals.



For this very first report, I would like to give you a bird’s eye view to quickly capture the local crypto scene:

Legal: Gray, not yet a sandbox. Existing regulation: any currencies except VND (Dong) is illegal in Vietnam.

Blockchain firms: a dozen of well-established products from blockchain infrastructure, protocols to Dapp, use case in provenance of good, crypto wallets, airdrop channels.

Local exchange: spot exchanges, fiat-crypto, crypto-crypto.

Community: rank 8th in crypto “trader” number (Datalight.me), surprisingly higher than the number of registered trading accounts in the stock market (VSD).

Most impactful event: 15,000 billion VND (~$660 million) scam exit in 2018 marked the largest police report for digital frauds.

This is just the beginning, please ensure your seatbelts are fastened for a tropical ride!

Regulatory sandbox brought into national scientific workshop discussion

In the largest national scientific workshop ever, Vietnam regulatory bodies and related governmental parties discuss legal framework in the context of the Law & Industrial Revolution 4.0 in Hanoi.

“Vietnam should update its legal system or it will fall behind in the digital age”, said the Vietnam PM in his keynote speech, which later brings Facebook’s cryptocurrency Libra into discussion.

Sandbox topic was brought to the table again since its first time in Q3/2018. As a remedy of parties, the Sandbox legal framework needs to have a well-defined “space and time” because testing can fail.

Photo by VGP. Source: VNexpress

Local crypto traders welcome new exchanges

The next wave of crypto exchanges has arrived with old lessons learned and new technology foundations built. They provide local crypto fans more functional products and activities beside trading (to retain user): airdrop & bounty portal, lottery/gambling, trading battle, launching program (IEO), VND-pegged cryptocurrency and for the first time, exchange tokens. The newcomers have taken the past legal lessons, to register outside of Vietnam (mostly in Singapore or offshore) and be well-prepared for local community FOMO (to attract new users). The trend makes the first gen player like BitcoinVN have to innovate with new pairs launching, strategic partnership with blockchain projects like Ontology, new stablecoins (the most recent is Dai).

Vietnam’s largest privately owned airline to launch e-commerce platform with blockchain technology in use.

Vietjet Air’s VP Binh Nguyen. Photo by Ken Kobayashi

Early this month, Vietnam budget-carrier Vietjet Air announced a plan to launch an e-commerce platform in a diversification effort to go beyond travel with financial services, travel services, consumer goods and more. According to the company’s Vice President Binh Nguyen, the platform is in talks with partner companies like banks, hotels and others to make the plan happen within two years, using blockchain technology to “smoothly share transaction among themselves”. With market cap over 3 billion USD in HOSE (Vietnam’s largest stock exchange), Vietjet Air can be considered as the most valued company to on-board blockchain solutions in the country at the moment.

Source: Asia Nikkei

Photo collage – BBOD Vietnam with project/community leaders

Photo collage – BBOD Vietnam with project/community leaders

Besides our social media channels with 4x engagement growth MoM, we also build connections with local communities through events over time. In the collage, there are managers and founders from Nebulas, Bigcoinvietnam, Khoinghiep.com, Kingchain, BCNEX, MSG, ONTology, VIC group and BBC.



That’s all for this episode. Want to know more on the topics written above? Join our discussion in Telegram. Stay tuned for the latest updates and insights next time!



P/S: 1,000,000 BBD Airdrop is still live! Make sure you register ASAP before it ends 30th July, 2019. To know more about the 1,000,000 Airdrop, please check our FAQ.



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