A documentary exploring Vietnam's economic paradox: rapid growth built on a deliberately weak currency drives citizens to seek alternatives—gold shops and now cryptocurrency. The fourth-highest crypto adoption globally masks a speculative market. The government now licenses stablecoin infrastructure and courts blockchain partners including @StellarOrg to redirect demand into payments.
Vietnam's growth model relies on a deliberately weak dong, devalued 3-5% annually to keep manufacturing competitive. This currency policy drives household savings into gold and cryptocurrency. Vietnam has the fourth-highest global crypto adoption, though much is leverage trading rather than payments infrastructure. After banning global exchanges this year, Vietnam implemented strict licensing: $400 million deposits required, at least 65% from institutional investors. The policy shift is explicit: channel speculation into payment infrastructure. The government is courting blockchain companies including the Stellar Development Foundation and Kraken to build stablecoin rails for cross-border payments. This mirrors Vietnam's gold policy: when supply was constrained, demand remained structural and prices spiked. The documentary suggests Vietnam is learning to build channels for demand rather than restrict it.
