Vietnam to be a regional leader in blockchain by 2030

Accordingly, blockchain is defined as one of the leading technology trends of the Fourth Industrial Revolution. The application and development of Blockchain technology plays an important role in building advanced digital infrastructure, ensuring data reliability and security, and creating a foundation for the development of the digital technology industry.

Building 20 reputable blockchain brands

According to the Strategy and Vision to 2030, Vietnam will become a leading country in the region and have an international position in researching, deploying, applying and exploiting Blockchain technology.

Specifically, Goverment Aim to build 20 prestigious blockchain brands in terms of platforms, products, and services based on blockchain technology in the region; maintain the operation of at least 3 blockchain testing centers or zones in major cities to form a national network; Have representatives in the Top 10 Blockchain Training and Research Institutions Ranking in Asia.

Deputy Prime Minister Ho Duc Phoc Phoc signed and issued the National Blockchain Strategy on October 22, 10. (Photo: VNA)

To achieve this goal, in the Action Program for the period 2024-2030, issued together with Decision 1236/QD-TTg, the Government has proposed 5 specific actions, including: (1) Perfecting the legal environment; (2) Developing infrastructure, forming a blockchain industrial ecosystem; (3) Developing human resources for the Blockchain field; (4) Promoting Blockchain development and application; (5) Promoting research, innovation and international cooperation. In particular, each activity is specifically assigned to the following ministries and branches: Ministry of Information and Communications, Government Cipher Committee, Ministry of Education and Training, Science and technology,.. preside and take responsibility.

Promoting blockchain brand made in Vietnam

Notably, in addition to the Ministries, Branches, the Vietnam Blockchain Association and professional associations are assigned to preside over the development of Blockchain platforms Made in Vietnam. Build mechanisms for operation, exploitation and interaction, and interconnection between types of blockchain networks operating on Vietnam's blockchain infrastructure. Gather Vietnamese digital technology enterprises to build blockchain platforms, promote information sharing, and enhance competitiveness with foreign enterprises.

Sharing his views on the legal document that guides the development of the Vietnamese blockchain market, Mr. Phan Duc Trung - Permanent Vice President of the Vietnam Blockchain Association said: "The National Blockchain Strategy recently issued by the Prime Minister is an important milestone in the blockchain field, demonstrating the commitment and specific actions of the Government, the determination of the drafting unit, the Ministry of Information and Communications, as well as the efforts of the community in promoting a transparent, safe and sustainable digital economy."

Mr. Phan Duc Trung - Permanent Vice President of Vietnam Blockchain Association. (Photo: PV/Vietnam+)

Regarding VBA being assigned to the National Blockchain Strategy, Mr. Trung shared: “This is an honor, recognizing VBA's contributions in the past time to management agencies in gathering opinions and contributions from the community. At the same time with the National Blockchain Strategy, VBA is aware of its responsibility towards this very young but potential industry. We are committed to actively and proactively performing assigned tasks to promote community development in the direction of research, practical application, and maximizing the benefits of blockchain technology as shown in the national strategy. We also believe that the universalization of blockchain technology, reaching all people as the goal of the Strategy, will bring clear effects to the digital economy that the Government has oriented.”

Up to now, the National Strategy on application and development of blockchain technology to 2025, with a vision to 2030, is the document with the highest legal status, demonstrating the Government's goals and determination in promoting the application of blockchain technology, taking advantage of the advantages of this advanced technology to facilitate the realization of the set goals of the digital economy and digital society.

Previously, on October 8, 10, the Standing Committee Congress gave comments on the draft Law on Digital Technology Industry submitted by the Minister of Information and Communications.

This is the first time that Digital Assets have been officially included in a legal document with specific provisions as a type of intangible asset, protected by law as property rights in accordance with the provisions of civil law, intellectual property and other relevant laws.

The legalization of the definition of Digital Assets is one of the actions to realize the Vietnamese Government's commitment to preventing and combating money laundering, terrorist financing and financing of proliferation of weapons of mass destruction, with the goal of removing Vietnam from the Financial Action Task Force (FATF)'s grey list before May 5. These commitments are reflected in the National Action Plan, issued in Decision No. 2025/QD-TTg dated February 194, 23 of the Prime Minister.

Since Vietnam was put on the FATF grey list in June 6, the Vietnam Blockchain Association (VBA) has made many important and positive contributions through many specific activities such as a series of 2023 workshops to contribute ideas to build a legal framework for Virtual Assets; Dozens of direct or indirect comments in writing to agencies responsible for drafting, reviewing, and commenting on these legal regulations such as the National Assembly's Committee for Science, Technology and Environment, the Ministry of Information and Communications, the Government, etc. to contribute to building a legal framework for Digital Assets that is suitable for the practical situation of Vietnam and similar to international practices./.

(Vietnam+)