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Vietnam is setting the stage to become a regional powerhouse in blockchain technology with the recent launch of its National Blockchain Strategy. Approved by Deputy Prime Minister Ho Duc Phoc, the strategy seeks to position the nation as a leader in blockchain research, development, and application across Asia, with ambitious goals to be achieved by 2030.
The plan comes as part of Vietnam’s broader digital transformation agenda, where blockchain is seen as a key driver of the Fourth Industrial Revolution. The country aims to improve data security, transparency, and innovation through blockchain—a technology expected to become a pillar of Vietnam’s digital infrastructure.
Key Objectives of The Strategy
At the heart of the National Blockchain Strategy are several critical targets. By 2030, the Vietnamese government plans to:
- Establish Three Blockchain Testing Zones: These zones will serve as testing facilities across major cities to foster innovation and national cooperation in blockchain technology.
- Develop 20 Leading Blockchain Brands: Vietnam seeks to build a competitive edge by nurturing 20 globally recognized blockchain brands, pushing “Made in Vietnam” solutions to the forefront of the industry.
- Rank Among the Top 10 Blockchain Hubs in Asia: Vietnamese institutions aim to be among the top 10 research and training centers for blockchain across Asia, signaling the nation’s serious intent to lead in this space.
A comprehensive Action Program for 2024–2030 will guide these efforts, with a strong focus on developing blockchain infrastructure and human resources. The strategy also encourages private-sector involvement, with local businesses expected to play a key role in blockchain innovation.
Vietnam Blockchain Association Leads the Charge
Central to this strategy is the Vietnam Blockchain Association (VVA), which will spearhead the country’s blockchain initiatives. Phan Duc Trung, Permanent Vice President of the VVA, underscored the significance of the plan, stating that it reflects the government’s commitment to blockchain development. The VVA will focus on improving the competitiveness of local businesses and promoting collaboration among domestic blockchain systems.
“This is an honor,” Trung remarked, acknowledging the VVA’s responsibility in driving the sector forward. “We are committed to aggressively and proactively performing the assigned tasks to promote community development.”
The association’s leadership will be pivotal in gathering input from the broader blockchain community and ensuring the country’s efforts remain aligned with international trends.
Government Backing for a Digital Future
The involvement of key government ministries adds weight to Vietnam’s blockchain ambitions. The Ministry of Information and Communications, alongside the Ministry of Education and Training, will work to ensure that the country meets its goals, with a particular emphasis on blockchain education and skill development.
This multi-ministerial support is essential as the nation strives to integrate blockchain into its digital economy, which is seen as a key component of Vietnam’s long-term growth. With blockchain poised to revolutionize industries ranging from finance to supply chain management, the government hopes that widespread adoption will benefit all citizens.
Vietnam’s National Blockchain Strategy marks a turning point in the country’s digital ambitions. By investing in blockchain technology, the nation is not only aiming to boost its own economic development but also positioning itself as a leader in Asia’s burgeoning blockchain space.
As Phan Duc Trung highlighted, “The approach aims to make blockchain technology accessible to all Vietnamese citizens.” By 2030, Vietnam could very well be a global beacon of blockchain innovation, leveraging its strategic efforts to foster a more secure, efficient, and innovative digital landscape.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
With a keen eye on the latest trends and developments in the crypto space, I’m dedicated to providing readers with unbiased and insightful coverage of the market. My goal is to help people understand the nuances of cryptocurrencies and make sound investment decisions. I believe that crypto has the potential to revolutionize the way we think about money and finance, and I’m excited to be a part of this unfolding story.
