Vietnam has Blockchain Association

The Blockchain Association belongs to the Ministry of Home Affairs and is the bridge between the community, the project and the management agency, contributing to promoting Vietnam's digital transformation. 

At the launch event of the Vietnam Blockchain Association on May 17, Tran Van Tung, Deputy Minister of Science and Technology, said: "In the top 200 leading blockchain companies in the world, there are 7 people-owned enterprises. We also have 10 businesses operating in this field with a market capitalization of over 100 million USD. Vietnam's blockchain technology unicorns have begun to appear with influence on a global scale."

Mr. Tung said that blockchain is a breakthrough technology trend, which is of particular interest to the Vietnamese government and ministries. In the context of the number of engineers and businesses appearing more and more, the stronger the need for sharing connections, the birth of the Blockchain Association is necessary. "I hope the association is a place for passionate organizations and individuals to share experiences and resources to promote research and experimentation, thereby making an important contribution to the process of national digital transformation, developing digital economy and digital society," said Mr. Tung.

Mr. Hoang Van Huey, former Deputy Minister of Science, Technology and Environment, Chairman of Vietnam Blockchain Association, affirmed that blockchain technology is being widely applied by many countries around the world in various fields. Vietnam is also one of the countries that soon caught the trend. The establishment of the association will mark a new stage, an important stepping stone for blockchain to be widely and reasonably applied to economic and social activities in the country.
Phan Duc Trung, Vice Chairman of the Association, said that international cooperation will open opportunities for blockchain companies, helping Vietnam to attract huge investment capital from the world.

"Investors around the world are willing to participate in blockchain summits held in Vietnam. Blockchain companies also aspire to 'land', Vietnam can become the cradle of blockchain industry. globally, not just compete with Singapore as it is now if we have a suitable legal corridor," Trung affirmed.

The Vietnam Blockchain Association has set six goals: Developing membership; Develop membership standards; Application promotion cooperation; Disseminate knowledge to the community; Contribute ideas on policies and international cooperation.

From working experience and observations in developed technology countries, Mr. Huy Nguyen, CEO of KardiaChain, Vice President of Blockchain Association, said: "With new technologies, we not only focus on fast jobs. , efficiency, but also pay special attention to doing things right and safely. This is always a conundrum for both technologists and regulators."

According to him, for this to happen, two prerequisites are needed. The first is to disseminate blockchain knowledge to the community. The second is to bring valuable blockchain applications into real life. He believes that at the current rate, only 5 years from now, blockchain technology will naturally creep into every corner of Vietnamese life.

Vice President of Blockchain Association said that over the past 30 years, Vietnam has missed many major technology trends of the world. As for blockchain, Vietnam is going hand in hand with the world, even having leading advantages. "With the establishment of the Association, I believe that in the future, the blockchain community will be closely linked, together sharing resources so that the world knows Vietnam as a strong and sustainable ecosystem, not just are single outstanding products," he said.

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