On October 23, Vietnam launched its National Blockchain Strategy, marking a significant commitment to establishing the country as a powerhouse for blockchain research and application in Southeast Asia by 2030. Recognizing blockchain technology as a cornerstone of the Fourth Industrial Revolution, Vietnamese authorities have outlined ambitious goals that underscore the importance of this technology to the nation’s future growth and development. This initiative signals a desire not only to enhance domestic capabilities but to also position Vietnam competitively on the global stage.
Phan Duc Trung, the Permanent Vice President of the Vietnam Blockchain Association, referred to this strategy as a historic turning point. It highlights the Vietnamese government’s dedication to creating a transparent and secure digital economy. The strategy aims to foster a robust ecosystem that encourages innovation and collaboration among businesses, researchers, and educational institutions. The government plans to cultivate an environment where reputable blockchain brands can thrive, ensuring that Vietnam emerges as a key player in the global blockchain landscape.
To achieve these goals, the Vietnamese authorities intend to invest in critical digital infrastructure that will facilitate the deployment and exploration of blockchain applications. Building this infrastructure is central to enabling researchers and innovators to flourish and to propel Vietnam’s ambitions toward becoming a top-tier hub for blockchain expertise and training in Asia.
A critical component of the National Blockchain Strategy is the establishment of a well-defined legal framework for digital assets. The Vietnamese government aims to align its regulations with international standards, thus recognizing digital assets as legitimate properties safeguarded under civil and intellectual property laws. This legal clarity is expected to bolster investor confidence and attract global players to Vietnam’s blockchain sector.
Moreover, recognizing the pivotal role that a skilled workforce plays in advancing blockchain technology, the government is committed to investing in human resource development. This initiative seeks to equip Vietnam’s workforce with the necessary skills and knowledge to support and drive blockchain innovations. By focusing on education and training in blockchain methodologies, Vietnam aims to create a strong foundation for the growth of this technology.
As Vietnam lays the groundwork for its blockchain future, the strategy includes an emphasis on international collaboration and research partnerships. The government aspires to integrate Vietnam into the global blockchain conversation, positioning the country as an influential contributor to worldwide advancements in this field.
Additionally, the strategy reflects Vietnam’s commitment to ethical standards, including the prevention of illicit activities such as money laundering and terrorist financing. By establishing regulations aligned with global best practices, Vietnam seeks not only to protect its financial system but also to strengthen its reputation as a trustworthy and responsible player in the blockchain ecosystem.
Vietnam’s National Blockchain Strategy is a testament to the country’s aspirations to lead in blockchain advancements while ensuring a secure and sustainable digital economy. Through a combination of strong infrastructure development, legal recognition of digital assets, and a focus on human resources, Vietnam is charting a course for a future that embraces the transformative potential of blockchain technology. The upcoming years will be crucial, as Vietnam strives to realize its vision and position itself on the map of global blockchain innovation.
