Vietnam and its outstanding blockchain development potential


The open policy on technology, the appearance of the Vietnam Blockchain Association … are the factors that make Korean experts believe that the Vietnamese blockchain market will develop strongly.

Mr. Phan Duc Trung – Standing Vice Chairman of Vietnam Blockchain Association and Mr. Huy Nguyen – Vice Chairman of Vietnam Blockchain Association spoke in the program “Blockchain Vietnam in the era of digital transformation”. This is a program in the Blockchain Expo Ho Chi Minh 2022 series of events, with the participation and sharing of speakers and leaders with extensive experience in both the blockchain industry and the traditional financial market. Especially, the participation of the Presidents of technology associations and organizations, including the Korean Blockchain Startup Association and the Marvels Blockchain Technology Summit.

The million dollar handshake between leaders

Experts said that in Vietnam, there is no specific document for blockchain, but with the current actions of the government for this technology, it is quite positive. Specifically, from the guidelines and policies that have created many opportunities for blockchain to develop. Typically, from 2020, the Ministry of Finance has set up a research team to apply fiat digital currency (CBDC). In 2021, the government tasked ministries and agencies to conduct blockchain research in Vietnam. Most recently, on March 31, 2022, the Prime Minister issued Decision No. 411/QD-TTg approving the National Strategy to develop the digital economy and digital society, with orientation to 2030, promoting the construction of a digital economy and society. Strong economy through technology. Thanks to these open-door policies, Vietnam has had many firsts in the blockchain field, typically the success of the world-famous Vietnamese unicorns.

However, in order to develop more smoothly and create a breakthrough in leading the technology position in the region, Vietnam still needs to propose legal policies to help startups develop further. Besides the government dispatches quoted by lawyer Phong Dao, Mr. Phan Duc Trung also emphasized that the establishment of the Vietnam Blockchain Association, which was authorized by the Ministry of Home Affairs to be established in April 2022, is also a positive signal. for the blockchain industry in the country. The association was established with the function of acting as a bridge between businesses and the state to develop policies related to blockchain.

Discussion session on “Challenges and opportunities of Startup Vietnam in the Vietnamese blockchain field”


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