Vietnam has recently taken a significant step towards advancing its blockchain ecosystem with the release of its National Blockchain Strategy. The Ministry of Information and Communications (MIC) announced this strategy on October 23, outlining a roadmap for the country’s development of a decentralized network and aiming to position Vietnam as a regional leader in the sector. This strategy is in alignment with the goals of the Fourth Industrial Revolution, a global initiative to integrate major technologies into economies.
The strategy focuses on five core areas overseen by government agencies, including the MIC and the Vietnam Blockchain Association. These areas include perfecting the legal environment, building infrastructure, promoting innovation, and advancing international cooperation. One of the key objectives is the creation of a comprehensive decentralized network industrial ecosystem, supported by national initiatives to build decentralized network platforms, products, and services.
Vietnam aims to establish 20 key blockchain brands and at least three blockchain testing centers across major cities to enhance research, development, and application of decentralized networks. Additionally, the strategy emphasizes the importance of establishing a legal framework that recognizes digital assets. As blockchain technology becomes more integral to finance, supply chains, and logistics, regulatory clarity is necessary to ensure the smooth development of decentralized network applications.
The strategy also highlights the importance of fostering innovation and international cooperation in the industry. Vietnam plans to collaborate with other countries to advance decentralized network research and development, creating opportunities for cross-border cooperation in the sector.
Another key element of the strategy is the establishment of a national blockchain network. Vietnam aims to create at least three testing centers in major cities to facilitate decentralized network development and application. These centers will serve as research, innovation, and security hubs, providing the infrastructure necessary to drive blockchain adoption in various industries.
The testing centers will also play a critical role in ensuring the security and reliability of blockchain applications, promoting confidence in the technology among businesses and consumers alike. The strategy recognizes the importance of these testing centers in advancing the blockchain ecosystem and ensuring its successful integration into various sectors.
In conclusion, Vietnam’s National Blockchain Strategy marks a significant milestone in the country’s journey towards becoming a regional leader in the blockchain sector. By focusing on legal frameworks, digital asset recognition, innovation, and international cooperation, Vietnam is laying a solid foundation for the development of a thriving blockchain ecosystem. With the establishment of a national blockchain network and testing centers, Vietnam is poised to drive the adoption of blockchain technology across industries, ensuring its security and reliability for businesses and consumers.
