Vietnam has recently announced its ambitious National Blockchain Strategy in an effort to position itself as a leading hub for blockchain research, application, and innovation in the region by the year 2030.
The Vietnamese government recognizes blockchain as a crucial technology in the Fourth Industrial Revolution and sees its importance for the country’s future development. Phan Duc Trung, Permanent Vice President of the Vietnam Blockchain Association, views this strategy as a significant milestone for Vietnam, showcasing the government’s dedication to building a transparent, safe, and sustainable digital economy.
The vision outlined in the strategy aims to propel Vietnam to the forefront of blockchain technology, driving research, deployment, and application forward. By 2030, the country seeks to establish a strong international presence by nurturing reputable blockchain brands and developing essential infrastructures to support innovation. Vietnam also aims to become a premier destination for blockchain research and training in Asia.
To accelerate blockchain growth, the strategy focuses on enhancing the legal framework and cultivating a robust industrial ecosystem. The country is also prioritizing human resource development to ensure there is a skilled workforce capable of supporting this evolving technology. Additionally, Vietnam is looking to bolster research and foster international collaboration to become a key player in blockchain-driven advancements globally.
A key component of the National Blockchain Strategy is the legal recognition of digital assets. Vietnam plans to align its regulatory framework with international standards to ensure that digital assets are legally recognized and protected as intangible assets. These assets will be safeguarded under property rights by civil law, intellectual property laws, and other relevant regulations. The government is committed to combatting money laundering, terrorist financing, and the proliferation of weapons of mass destruction by regulating digital assets in accordance with global standards.
Vietnam’s proactive approach to blockchain technology is not surprising given the country’s position as one of the top five in terms of global crypto adoption. With its National Blockchain Strategy, Vietnam is poised to become a key player in the blockchain space, driving innovation and fostering a conducive environment for blockchain development.