The Government of Vietnam has launched a blockchain strategy for the country that will focus on developing the technology and expanding adoption.
Vietnam has a clear vision to expand blockchain adoption leading up to 2030. In this regard, its government has released a National Blockchain Strategy. Publishing a press release on the strategy, the government outlined key areas that would enable blockchain adoption in Vietnam.
The Deputy Prime Minister of Vietnam signed the order launching the strategy on October 22. Meanwhile, the press release noted how blockchain technology formed a key trend for the ‘Fourth Industrial Revolution.’ Further, it describes how technology would help develop the technology industry.
Vietnam would work towards creating twenty blockchain brands as a part of the strategy. Further, these blockchain brands will center on services, platforms, and products. Moreover, the strategy will also entail developing testing centers or special zones focused on blockchain technology.
The government listed five specific actions that would aid in achieving the vision: “(1) Perfecting the legal environment; (2) Developing infrastructure, forming a blockchain industrial ecosystem; (3) Developing human resources for the Blockchain field; (4) Promoting Blockchain development and application; (5) Promoting research, innovation and international cooperation.“
Key actions of the vision will also be presided over by the Vietnam Blockchain Association. Along with the government, unions, and other professional bodies, the Vietnam Blockchain Association will take part in taking the plans forward.
The unique aspect of this strategy is that it has legal status. This is likely going to empower institutions in Vietnam to bring the strategy to fruition. At the same time, existing blockchain firms could also benefit from the strategy. Asia is a major region that is moving towards becoming a hub for this sector. Hong Kong, Japan, Singapore, and others have also been working in this regard.
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