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Decom Holdings Provides Solution to Monetary Authority of Singapore on Global Challenge for Retail CBDC

·3-min read

X-Vision Team

X-Vision Team
X-Vision Team
X-Vision Team

HO CHI MINH CITY, Vietnam, Aug. 04, 2021 (GLOBE NEWSWIRE) -- As a response to the Global Challenge for retail Central Bank Digital Currency (CBDC) solutions organized by the Monetary Authority of Singapore (MAS) on 23 June 2021, a group of experts from Decom Holdings Vietnam has proposed innovative ideas and solutions to address 12 different problem statements raised by the MAS and partner organizations from all over the world. These statements are centered on three key areas: CBDC Instrument; CBDC Distribution; and CBDC Infrastructure.

All senior experts in different time zones and working environments have worked diligently together to come up with the most original and innovative proposal possible for this contest. With a group of experts’ expertise and experience in financial and banking, blockchain security, cryptography, and other blockchain applications, the team is very confident in contributing to enhance payment efficiencies and promote financial inclusion through the Global Challenge for Retail CBDC Solutions launched by MAS.

This project marks the first time ever to have an independent research team on blockchain in Vietnam, with members from a variety of fields such as finance, cryptography, technology, marketing, etc., work together remotely on a public project with an international scale.

“We are overjoyed to be a part of this competition hosted by the Singapore government. It is a great way to encourage organizations, groups and individuals across the globe to share their brilliant proposal for retail CDBC solutions,” said Trung Phan, Chairman of Decom Holdings Joint Stock Company, an expert in investment and DEFI solutions. “We learned about the competition only a few weeks ago, but we quickly put together a team and started the project right away. We did run into some obstacles during the process due to the intense Covid outbreak in Vietnam right now, but the team still tried our best since we don’t want to miss this opportunity to share our knowledge and foster the mass adoption for Blockchain via CBDC.”

To add on, Ms. Lynn Hoang, Director of Binance Vietnam and Blockchain expert of Vietnam Innovation Network, shared: “The challenge launched by MAS is extremely essential. Many central banks in China, UK, Germany, US and around the world are actively exploring the issuance of national digital currencies, while having to explore a range of policy and technology challenges. This competition encourages creative communities around the world to develop and showcase solutions that can maximize the potential of CBDCs to bring efficiency to payment services, improve financial inclusion in line with central banks' core mission of stabilizing currencies.”

About Decom Holdings:

Decom Holdings Joint Stock Company specializes in DEFI investment and solution search, providing their customers with secure and high-quality services. Decom Holdings is also running a blockchain-focused community with more than 11,000 active members including experts who are senior leaders at leading enterprises in Vietnam and people with endless passion for blockchain platforms.

Photo: https://www.globenewswire.com/NewsRoom/AttachmentNg/f765b334-7243-4851-9333-c9e5adcc365a

CONTACT: NGUYEN THANH THU(Ms) +84-907-60-4300 thunt@decomlab.com


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