{"id":107923,"date":"2021-01-09T10:08:38","date_gmt":"2021-01-09T10:08:38","guid":{"rendered":"https:\/\/precoinnews.com\/?p=107923"},"modified":"2021-01-09T10:08:38","modified_gmt":"2021-01-09T10:08:38","slug":"vietnam-based-hdbank-set-to-utilise-blockchain-for-letters-of-credit","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/vietnam-based-hdbank-set-to-utilise-blockchain-for-letters-of-credit\/","title":{"rendered":"Vietnam based HDBank set to utilise blockchain for letters of credit"},"content":{"rendered":"<p><strong>Quick take<\/strong><\/p>\n<p><strong>1 minute read<\/strong><\/p>\n<ul>\n<li><strong>HDBank, a massive financial institution based in Vietnam has become the first of its kind in the country to issue letters of credit using blockchain technology.<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>According to a report released this week, the issuance document presentation and successful payment of L\/C on blockchain highlight a massive achievement for the institution.<\/strong><\/li>\n<\/ul>\n<p><span>HDBank, a massive financial institution based in Vietnam has become the first of its kind in the country to issue letters of credit using blockchain technology.<\/span><\/p>\n<p><span>According to a report that was released earlier this week on the 6th of January, the issuance document presentation and successful payment of L\/C on the blockchain highlights a massive achievement for the institution&#8217;s mission to become a &ldquo;happy digital bank&ldquo;.<\/span><\/p>\n<p><span>Participants involved in this first transaction were a local fiber importer and a yarn manufacturer in Taiwan.<\/span><\/p>\n<p><span>For those that don&rsquo;t know, letters of credit are extremely important when it comes to international trading. This is because it can provide a guarantee from an institution worthy of credit. A good example of this is a bank. By utilising the power of blockchain for L\/C, there are numerous advantages at hand. Providing a higher level of security and a permanent record of the transaction can also reduce the time that is needed to process such transactions to a matter of hours.<\/span><\/p>\n<p><span>With the institution becoming the first bank in Vietnam to issue letters of credit through the blockchain, will other local banks follow suit? Only time will tell; however, the power of blockchain is very much proven at this point so it would be foolish not to take advantage of it in today&rsquo;s world.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><em><span>Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.<\/span><\/em><\/p>\n<p>Related TAGS: <\/p>\n<p>You can share this post!<\/p>\n<p>Source: <a href=\"https:\/\/cryptodaily.co.uk\/2021\/01\/vietnam-based-hdbank-set-to-utilise-blockchain-for-letters-of-credit\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Quick take 1 minute read HDBank, a<\/p>\n","protected":false},"author":3,"featured_media":107922,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Vietnam based HDBank set to utilise blockchain for letters of credit - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/vietnam-based-hdbank-set-to-utilise-blockchain-for-letters-of-credit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vietnam based HDBank set to utilise blockchain for letters of credit - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Quick take 1 minute read HDBank, a\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/vietnam-based-hdbank-set-to-utilise-blockchain-for-letters-of-credit\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-09T10:08:38+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/01\/ccryptafotoblockchain-horizontal-blu.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/vietnam-based-hdbank-set-to-utilise-blockchain-for-letters-of-credit\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/vietnam-based-hdbank-set-to-utilise-blockchain-for-letters-of-credit\/\",\"name\":\"Vietnam based HDBank set to utilise blockchain for letters of credit - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2021-01-09T10:08:38+00:00\",\"dateModified\":\"2021-01-09T10:08:38+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/crypto\/vietnam-based-hdbank-set-to-utilise-blockchain-for-letters-of-credit\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/crypto\/vietnam-based-hdbank-set-to-utilise-blockchain-for-letters-of-credit\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/vietnam-based-hdbank-set-to-utilise-blockchain-for-letters-of-credit\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crypto\",\"item\":\"https:\/\/precoinnews.com\/category\/crypto\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Vietnam based HDBank set to utilise blockchain for letters of credit\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Vietnam based HDBank set to utilise blockchain for letters of credit - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/crypto\/vietnam-based-hdbank-set-to-utilise-blockchain-for-letters-of-credit\/","og_locale":"en_US","og_type":"article","og_title":"Vietnam based HDBank set to utilise blockchain for letters of credit - Pre Coin News","og_description":"Quick take 1 minute read HDBank, a","og_url":"https:\/\/precoinnews.com\/crypto\/vietnam-based-hdbank-set-to-utilise-blockchain-for-letters-of-credit\/","og_site_name":"Pre Coin News","article_published_time":"2021-01-09T10:08:38+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/01\/ccryptafotoblockchain-horizontal-blu.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/crypto\/vietnam-based-hdbank-set-to-utilise-blockchain-for-letters-of-credit\/","url":"https:\/\/precoinnews.com\/crypto\/vietnam-based-hdbank-set-to-utilise-blockchain-for-letters-of-credit\/","name":"Vietnam based HDBank set to utilise blockchain for letters of credit - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2021-01-09T10:08:38+00:00","dateModified":"2021-01-09T10:08:38+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/crypto\/vietnam-based-hdbank-set-to-utilise-blockchain-for-letters-of-credit\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/crypto\/vietnam-based-hdbank-set-to-utilise-blockchain-for-letters-of-credit\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/crypto\/vietnam-based-hdbank-set-to-utilise-blockchain-for-letters-of-credit\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"Crypto","item":"https:\/\/precoinnews.com\/category\/crypto\/"},{"@type":"ListItem","position":3,"name":"Vietnam based HDBank set to utilise blockchain for letters of credit"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/107923"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=107923"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/107923\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/107922"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=107923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=107923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=107923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}