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I have previously heard that it has found a use case in Vietnam and no other country in circumventing legally unusual financial policy, but I haven't been able

I have previously heard that it has found a use case in Vietnam and no other country in circumventing legally unusual financial policy, but I haven't been able to find: * Anything reliable about crypto adoption in Vietnam from a more recent time than March of this year in English (or accessible with Google translate). * Anything comparing different cryptocurrency proof formats by Vietnamese popularity, including differentiation of non-mineable proof of work cryptocurrencies like Monero. * A convincing argument that the Vietnamese cryptocurrency market won't vanish in less than a year when their government caves to the State Department and IMF's lobbying and liberalises their banking and payments laws.

Demmme 3y ago
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alephnerd 3y ago
I was recently in Vietnam for work and the crypto usecase there appeared to be used as a way to bypass traditional gold+dollar based money laundering after the Viet A corruption crackdown began (roughly around the time I was there for work). For daily commerce, people still used Dong or Venmo-esque services like ZaloPay, Momo, or Mocha. Ik they were investigating a Blockchain based Virtual Dong back in 2021, but idk if the people affiliated with that are still relevant or not in prison due to the graft crackdown.
- antran22 3y ago
  Vietnamese here. Crypto best use case here is usually fast and small international transaction (beside speculation etc.) For daily commerce, we have instant, free, cross-bank transfer. All popular banks provide e-banking apps with fast transaction to all the other popular banks. Polymer money are still used for very small amount (and oddly, buying gasoline), but I have been going 90% cashless for a year. All Blockchain related stuffs are still more or less unsupported by law, not recognizable as assets. So if you get crypto-scammed in Vietnam, which happens a lot, you are more or less fucked
aaron695 3y ago
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Demmme 3y ago

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alephnerd 3y ago

I was recently in Vietnam for work and the crypto usecase there appeared to be used as a way to bypass traditional gold+dollar based money laundering after the Viet A corruption crackdown began (roughly around the time I was there for work). For daily commerce, people still used Dong or Venmo-esque services like ZaloPay, Momo, or Mocha. Ik they were investigating a Blockchain based Virtual Dong back in 2021, but idk if the people affiliated with that are still relevant or not in prison due to the graft crackdown.

antran22 3y ago
Vietnamese here. Crypto best use case here is usually fast and small international transaction (beside speculation etc.) For daily commerce, we have instant, free, cross-bank transfer. All popular banks provide e-banking apps with fast transaction to all the other popular banks. Polymer money are still used for very small amount (and oddly, buying gasoline), but I have been going 90% cashless for a year. All Blockchain related stuffs are still more or less unsupported by law, not recognizable as assets. So if you get crypto-scammed in Vietnam, which happens a lot, you are more or less fucked

aaron695 3y ago

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