Current situation of Bitcoin management and use: perspectives from the world and recommendations for vietnam

Hang Bui Thi Thu, Huy Dinh Tran Ngoc, An Phan Thuy, Ngoc Nguyen Thi Bich and Duyen Huynh Thi My
Additional contact information
Hang Bui Thi Thu: Ph.D., Ho Chi Minh Banking University - Lecturer of Economics Department, Tay Nguyen University, Daklak, Vietnam
Huy Dinh Tran Ngoc: Ph.D., MBA, Banking University HCMC, Ho Chi Minh cityVietnam-International University of Japan, Japan
An Phan Thuy: M.Sc., Tay Nguyen University, Lecturer of Economics Department, Daklak, Vietnam
Ngoc Nguyen Thi Bich: M.Sc., Tay Nguyen University, Lecturer of Economics Department, Daklak, Vietnam
Duyen Huynh Thi My: M.Sc., Lecturer of Economics Department, Tay Nguyen University, Daklak, Vietnam

Management, 2020, vol. 24, issue 2, 209-235

Abstract: The research aimed to evaluate suitability of Bitcoin and its platform in emerging markets such as Vietnam. We used qualitative analysis combined with data collection method published, statistics, analysis, synthesis, comparison, to generate qualitative comments and discussion; evaluate results, the article analyzed and evaluated the impacts of Bitcoin and virtual currency on society of Vietnam, both positive and negative sides. It was found that virtual currency not accepted in Vietnam as means of payment yet, while many nations in the world accept it. We need to complete the legal framework for virtual currencies in general, Bitcoin in particular. The State should continue to have policies to improve information technology infrastructure, build and improve the capacity of the contingent of financial experts, encryption, and security experts and give warning risks in virtual currency transactions. The scientific value of paper is using experiences from previous studies in other countries to generate recommendations for conditions of Bitcoin development in merging markets. Last but not least, the research was limited to the case of Vietnam; hence, we can expand research to other Asian countries or other emerging markets.

Keywords: Bit coin; virtual currency; cryptocurrencies; Vietnam (search for similar items in EconPapers)
JEL-codes: E42 E5 E51 (search for similar items in EconPapers)
Date: 2020
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.2478/manment-2019-0054 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:vrs:manmen:v:24:y:2020:i:2:p:209-235:n:3

DOI: 10.2478/manment-2019-0054

Access Statistics for this article

Management is currently edited by Janina Stankiewicz

More articles in Management from Sciendo
Bibliographic data for series maintained by Peter Golla ().