Issue: Số 8 - Tháng 3- 2025Tài chính - Ngân hàng - Bảo hiểm
Exploring blockchain applications in the documentary credit process: A study of commercial banks in Vietnam
Published: July 25, 2026
Abstract
Amid accelerating digital transformation, blockchain technology has emerged as a promising solution to improve transparency, security, and operational efficiency in the financial and banking sector. In particular, its application to the letter of credit (L/C) method, a critical instrument in international trade finance, can effectively address long-standing limitations such as prolonged processing times, high transaction costs, and risks of document fraud. This study examines the current adoption of blockchain in the L/C processes at several commercial banks in Vietnam, analyzing both achievements and ongoing challenges. Based on these insights, the study proposes future development directions for leveraging blockchain technology to enhance L/C operations in alignment with the evolving demands of digital banking.
Keywords
blockchainletter of creditcommercial banksVietnam
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