Vietnam has unveiled its National Blockchain Strategy, aiming to become a regional leader in blockchain technology by 2030. The strategy, approved by Deputy Prime Minister Ho Duc Phoc, outlines five key actions: perfecting the legal environment, developing infrastructure, cultivating human resources, promoting blockchain development, and promoting research and international cooperation.
JUST IN: VIETNAM OFFICIALLY RELEASES ITS NATIONAL BLOCKCHAIN STRATEGY
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The government plans to establish 20 prestigious blockchain brands, maintain three blockchain testing centers, and rank among the top ten blockchain training institutions in Asia. The Ministry of Information and Communications, the Government Figures Committee and the Ministry of Education and Training will monitor these efforts.
The Vietnam Blockchain Association (VBA) will develop ‘Made in Vietnam’ blockchain platforms, promote information sharing and increase competitiveness with foreign enterprises. VBA Permanent Vice President Phan Duc Trung called the strategy a milestone, demonstrating the government’s commitment to a transparent and sustainable digital economy.
Vietnam’s emphasis on blockchain stems from Vietnam’s potential to build advanced digital infrastructure, ensure data security and boost the digital technology industry. The country has already made significant progress in cryptocurrency adoption, ranking first in the Chainalysis Global Crypto Adoption Index in 2021 and 2022.
Key initiatives include Vietnam’s Blockchain Strategy:
- Developing Blockchain Infrastructure: Construction mechanism for operation, exploitation, interaction and interconnection between blockchain networks.
- Cultivating human resources: Increasing expertise in the field of blockchain development and application.
- Promoting Blockchain Development: Stimulating innovation and entrepreneurship in the blockchain sector.
- International cooperation: Collaborate with global partners to advance blockchain research and application.
Vietnam’s commitment to blockchain is reflected in its draft law on the digital technology industry, which includes provisions for digital assets as intangible assets protected by law.
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