What are the sectors that can apply blockchain technology? Blockchain technology is being used in fields as diverse as cryptocurrencies, the financial sector, supply chain management, health, and cultural industries. How would the blockchain impact the finance sector? What do you think is the current trend and how will it develop in the future? How can safety be ensured in applying blockchain technology in the finance sector and avoiding bubbles? The financial sector will be significantly disrupted by blockchain technology. Blockchain allows for greater control over assets and allows holders of those assets to make more complex exchanges. For stock exchanges, blockchain can be used to automate and streamline pre-trade, trade, post-trade and custody, and securities servicing, functions of stock exchanges. Some benefits of blockchain-enabled stock exchanges include cost reductions, better information security, faster settlement times and improved information search and gathering … [Read more...] about Blockchain – the way AI technology works in financial sector?
Technological development in banking sector
ADB has decided to offer Vietnam a US$100 million policy-based loan to boost its financial development and inclusion According to the bank’s announcement on December 4, its financial sector development and inclusion program represents a medium to long-term partnership in finance sector development between ADB and the Government of Vietnam. The program is consistent with the government’s socio-economic development strategy during 2011-2020 and ADB’s strategy to 2030, in addressing the remaining poverty and income inequality. The program supports several government reforms to strengthen, deepen, and broaden the outreach of Vietnam’s formal finance sector. These include improvements in the legal and regulatory framework to resolve non-performing loans and restructure weak credit institutions, the creation of an enabling environment for the money market and government bond market development, and policy measures to introduce a market-based approach to financial … [Read more...] about ADB offers US$100 million to boost financial development in Vietnam
Investment of 6% in agriculture sector called lowBy Thuy Dung Representatives at the review conference on the restructuring of the agriculture sector in Hanoi City on November 10 – PHOTO: THUY DUNG HANOI – Investment in the agro-forestry-fishery sector was put at VND390 trillion during the 2013-2017 period, making up some 5.7% of the total investment in all sectors, as stated at a review conference in Hanoi City on November 10 on the restructuring of the agriculture sector. Speaking at the conference, Deputy Minister of Agriculture and Rural Development Ha Cong Tuan said that the ministry had adjusted public investment capital for restructuring and potential projects which bring in high added value, including irrigation systems in the fishery sector. Investment capital from the State budget allocated for agriculture and rural development in the 2013-2017 period was VND712 trillion, 1.54 times as high as that for the previous five-year period. The figure was lower … [Read more...] about Investment of 6% in agriculture sector called low
Deputy Governor of SBV Nguyen Kim Anh speaks at the conference - Photo: nhandan The project has a total investment of US$71.83 million, including U$60 million in preferential loans from the International Development Association (IDA), US$0.83 million in non-refundable aid from the Government of Japan, and US$11 million from the Vietnamese state budget. It aims to assist the State Bank of Vietnam (SBV), the Credit Information Centre (CIC), and the Deposit Insurance of Vietnam (DIV) to improve the delivery of their main functions in accordance with the relevant international standards for the banking sector. According to Nguyen Kim Anh, Deputy Governor of SBV, this is the first project by the SBV to be implemented synchronously in key areas of backing sectors, such as monetary policy, foreign exchange management, and statistical forecasting, among others. The project is a close combination of strengthening institutional capacity and modernising information technology. The project was … [Read more...] about US$72 million project on strengthening banking sector’s capacity reviewed
SBV Deputy Governor Nguyễn Kim Anh speaks at the conference. — Photo danviet.vnViet Nam News HÀ NỘI — The State Bank of Việt Nam (SBV) on Thursday held a conference to close the Financial Sector Modernisation and Information Management System Project (FSMIMS). The FSMIMS project was implemented at the SBV, the National Credit Information Centre of Việt Nam (CIC) and Deposit Insurance of Việt Nam (DIV) with total investment capital of US$71.83 million. The project aimed to develop the banking industry and establish modern banking infrastructure in line with other countries in the region based on the effective application of IT and international practices suitable for Việt Nam. It combines institutional capacity reform and information technology modernisation. SBV Deputy Governor Nguyễn Kim Anh said that the project had been successful and achieved its objectives. This is the first project implemented … [Read more...] about VN completes modernisation of banking sector