Vietnam Launches National Blockchain Strategy to Drive Technological Advancement

Vietnam’s Bold Step Towards Blockchain Innovation

National Blockchain Strategy Unveiled

Vietnam recently unveiled its ambitious National Blockchain Strategy to propel the country as a leader in blockchain technology by 2030. The strategy, endorsed by Deputy Prime Minister Ho Duc Phoc, aims to foster a robust blockchain ecosystem and empower local platforms and services.

Action Plan for Blockchain Growth

The strategy outlines a five-point action plan to achieve its goals, including creating a supportive legal environment, building infrastructure, investing in human capital, promoting blockchain across sectors, and encouraging research and international collaboration.

Role of Vietnam Blockchain Association

Key Player in Strategy Implementation

The Vietnam Blockchain Association (VBA) will play a crucial role in executing the strategy. It will focus on developing local blockchain platforms, enhancing collaboration among digital enterprises, and contributing to the legal framework for blockchain technology.

Vietnam Emerges as Crypto Adoption Leader

Digital Assets Regulation in Vietnam

Despite the absence of formal legislation, Vietnam leads in crypto adoption in Southeast Asia. Recent developments in including digital assets in the draft Law on Digital Technology Industry highlight Vietnam’s efforts to combat financial crimes and improve its global ranking.

Global Crypto Adoption Index Rankings

According to Chainalysis, Vietnam ranks 5th globally in the 2023 Global Crypto Adoption Index and 2nd in Southeast Asia. The Index evaluates transaction volumes and web traffic patterns to measure crypto adoption, giving insights into Vietnam’s growing prominence in the digital asset space.