Vietnam Unveils National Blockchain Strategy to Lead in the Fourth Industrial Revolution
On October 23, Vietnam achieved a groundbreaking milestone with the release of its National Blockchain Strategy, an ambitious initiative spearheaded by the Ministry of Information and Communications (MIC). This strategic roadmap aims to position Vietnam as a leader in blockchain technology and drive the nation’s role in the Fourth Industrial Revolution.
The strategy centers around five key objectives that will shape the future of blockchain in Vietnam, focusing on building a solid legal framework, enhancing blockchain infrastructure, and fostering an innovation-driven culture. Key government bodies like the MIC and the Vietnam Blockchain Association are set to oversee these goals.
Five Pillars of Vietnam’s National Blockchain Strategy
Vietnam’s blockchain strategy is anchored in five crucial actions:
- Creating a Supportive Legal Framework: Developing regulations to enable blockchain growth and innovation.
- Establishing Robust Blockchain Infrastructure: Building an integrated ecosystem for blockchain technology.
- Investing in Blockchain Talent: Fostering a skilled workforce to lead blockchain projects and development.
- Promoting Blockchain Applications: Driving the adoption of blockchain in various sectors.
- Encouraging Research and Global Cooperation: Supporting blockchain research, innovation, and partnerships on an international scale.
Goals of the National Blockchain Strategy
A standout objective in Vietnam’s strategy is the development of a national blockchain ecosystem, aiming to build 20 national blockchain brands for platforms, products, and services. Additionally, the plan includes establishing at least three blockchain testing centers in major cities to boost innovation and strengthen Vietnam’s blockchain capabilities.
Legal Recognition and Regulation of Digital Assets
One notable aspect of the strategy is Vietnam’s commitment to legally recognize digital assets. By aligning regulations with international standards, the government aims to ensure digital assets are protected under civil law, preventing money laundering, terrorist financing, and the spread of weapons of mass destruction.
Through these initiatives, Vietnam is setting the stage to become a blockchain powerhouse in the region, driving innovation, security, and international collaboration. The National Blockchain Strategy signifies Vietnam’s bold vision for a digitally empowered future.
