Vietnam is making strides towards becoming a leader in blockchain technology with the unveiling of its National Blockchain Strategy on October 23. This initiative is not just a fleeting trend; it signifies a well-thought-out plan aimed at establishing Vietnam as a beacon for blockchain research, application, and innovation in Southeast Asia by the year 2030. The emphasis on blockchain as a key player in the Fourth Industrial Revolution reflects the Vietnamese government’s understanding of technology’s potential to drive socio-economic advancements.
Phan Duc Trung, the Permanent Vice President of the Vietnam Blockchain Association, characterized this strategy as a groundbreaking moment for the nation. By committing to a transparent and sustainable digital economy, the Vietnamese government is showcasing its intent to cultivate an environment conducive to blockchain expansion. This strategic approach highlights the importance of government involvement in ensuring technology adoption aligns with broader economic goals.
Building a Robust Ecosystem
The core of the strategy focuses on building a holistic ecosystem centered around blockchain technology, which encompasses the development of infrastructure, legal framework enhancement, and the nurturing of human resources. By 2030, Vietnam aspires to create a prominent international presence in the blockchain arena, fostering reputable brands while developing critical infrastructures to support innovation. This multifaceted approach aims not only at driving technological advancements but also at ensuring that the workforce possesses the necessary skills to navigate this rapidly evolving landscape.
A pivotal aspect of Vietnam’s strategy includes the legal recognition of digital assets, a crucial step toward fostering a secure and regulated environment for blockchain activities. The commitment to align local regulations with international standards signifies Vietnam’s intention to ensure that digital assets are recognized and protected under civil law, intellectual property rights, and other legal statutes. This legislative ambition aims to create a safe space for innovation while preventing the misuse of technology, such as money laundering, terrorist financing, and other illicit activities.
Moreover, the strategy acknowledges the global nature of blockchain advancements, emphasizing the importance of international collaboration in research and development. Vietnam aims to position itself as a significant player on the international stage within the blockchain community. By facilitating partnerships and initiating global dialogue, the country seeks to be at the forefront of blockchain-driven progress in various sectors.
As one of the leading nations in terms of cryptocurrency adoption, Vietnam’s investment in blockchain technology is not just timely but essential for its future trajectory in the global economy. By prioritizing a comprehensive strategy that incorporates government support, legal recognition, and skilled workforce development, Vietnam is poised to leverage blockchain technology as a cornerstone for economic growth and innovation in the coming years. With a clear vision, the nation is taking significant steps to transform its digital landscape, making it a pivotal player in the worldwide blockchain ecosystem.