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DNO - Da Nang is exploring how controlled trials of digital asset solutions could improve tourist payment experiences and support tourism growth, in parallel with strengthening safeguards against financial and cybersecurity risks.
A seminar entitled “Crypto-asset Sandbox: A New Growth Driver for Da Nang’s Digital Tourism” was recently held by AlphaTrue Solutions JSC, Icetea Solution Digital Asset Services JSC and Tether Group.
Vice Chairman of the Da Nang People’s Committee Ho Quang Buu attended the event, alongside representatives of relevant departments, the Vietnam Blockchain and Digital Assets Association, businesses and experts in technology, finance, and tourism.
Addressing the seminar, Vice Chairman Ho Quang Buu said Da Nang viewed science and technology, innovation, and digital transformation as important drivers of development.
The rapid emergence of digital finance and digital assets called for an approach that enables new solutions to be tested while maintaining close supervision and effective risk controls.
A regulatory sandbox allows new business models and technologies to operate within defined boundaries and for a specified period, providing an opportunity to assess their effectiveness before wider implementation.
Given its diverse tourism services and international visitor base, Da Nang offers a potential setting to evaluate whether such solutions can make transactions more convenient for travelers.
Vice Chairman Ho Quang Buu called on participants to discuss the legal framework, selection criteria and monitoring mechanisms for sandbox trials.
Particular attention should be paid to preventing money laundering, strengthening cybersecurity, protecting personal data, and safeguarding users.
The seminar also examined payment difficulties faced by international visitors and possible approaches to expanding cashless transactions.
Participants were encouraged to draw on international regulatory experience and public-private partnership models adopted in tourism destinations worldwide.
Another key issue was cooperation among banks, technology companies and tourism businesses to improve the effectiveness of pilot schemes.
Any technological application should ultimately enhance visitors’ experiences, create more business opportunities, and contribute to the city’s sustainable development.
Discussions covered the legal framework for sandbox mechanisms, oversight of pilot models, the growing trend towards cashless tourism and international experience in applying digital assets to the real economy.
The seminar provided a forum for stakeholders to examine how controlled experimentation could help the city pursue digital tourism while keeping risks in check.