On October 23, Vietnam released its National Blockchain Strategy, a significant step towards establishing itself as a leading force in blockchain technologies within Southeast Asia by 2030. This ambitious initiative underscores the Vietnamese government’s recognition of blockchain as a pivotal component of the Fourth Industrial Revolution. The announcement was made by Phan Duc Trung, the Permanent Vice President of the Vietnam Blockchain Association. He described this strategy as a defining moment for the country, which illustrates the government’s dedication to fostering a transparent, secure, and sustainably evolving digital economy.
The strategic framework aims not only to enhance Vietnam’s technological capabilities but also to position it as a center for blockchain research, application, and innovation. By 2030, the government envisions Vietnam cultivating internationally recognized blockchain brands and constructing critical infrastructure that promotes technological advancements. This includes ambitions to establish the country as a premier destination for blockchain research and training in Asia, enhancing its profile on the global stage.
Furthermore, this plan seeks to accelerate the growth of blockchain technologies through a multi-faceted approach. It emphasizes the necessity of a robust legal framework to support evolving technologies while fostering a thriving industrial ecosystem conducive to innovation. Importantly, the strategy highlights the importance of human resource development, ensuring that Vietnam nurtures a skilled workforce adept in blockchain technologies.
A crucial component of Vietnam’s blockchain strategy is the legal recognition and regulation of digital assets. Recognizing the growing global digital economy, Vietnam intends to align its regulatory framework with international standards to ensure that digital assets are legally protected as intangible property. This encompasses civil law and intellectual property regulations, thereby safeguarding the rights of investors and innovators.
The government’s commitment is further emphasized by its intent to prevent illicit activities such as money laundering and terrorist financing. These measures will ensure that as Vietnam advances in the blockchain space, it also adheres to global standards that govern financial systems and digital asset management. This aligns well with Vietnam’s current standing, as the nation ranks among the top five globally in terms of cryptocurrency adoption.
Looking ahead, Vietnam’s strategy includes boosting international collaboration in blockchain research and applications. By fostering partnerships with global leaders in technology and innovation, Vietnam aims to leverage knowledge and expertise, enhancing its capacity in blockchain development. This proactive stance positions Vietnam not just as a participant in the blockchain revolution but as a key player that can contribute to international advancements within this sector.
Vietnam is setting itself on a transformative path through its National Blockchain Strategy. By aligning its technological ambitions with effective regulations, investing in human capital, and fostering international collaboration, Vietnam is aimed at not only participating in the global blockchain landscape but also shaping it. The future of blockchain in Vietnam looks promising, with the potential to augment the nation’s economy and place it at the forefront of digital innovation in Asia.
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