As a seasoned researcher with a keen interest in blockchain technology and its transformative potential, I find Vietnam’s National Blockchain Strategy to be both inspiring and forward-thinking. Having followed the global landscape of blockchain for years, it is refreshing to see a developing country like Vietnam taking such decisive steps towards embracing this revolutionary technology.
Vietnam has officially released a National Blockchain Strategy.
On October 23rd, the Ministry of Information and Communications revealed its strategy, detailing crucial goals aimed at enhancing the nation’s competence in blockchain technology.
It seeks to advance blockchain technology, set up necessary legal structures, and encourage innovation within the context of what they refer to as “the Fourth Industrial Evolution.
Key action areas
The plan highlights five major sectors, supervised by respective government entities such as the Ministry of Information and Communications (MIC) and the Vietnam Blockchain Association.
According to the official announcement, the five proposed actions include:
“(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.“
Blockchain infrastructure
A key focus of Vietnam’s strategic plan is nurturing their blockchain infrastructure. The government intends to create 20 distinct blockchain-related brands encompassing various platforms, goods, and services.
Furthermore, the National Blockchain Strategy plans to set up testing facilities in key urban areas with the goal of creating a nationwide blockchain network.
These facilities are vital for creating and implementing blockchain solutions, maintaining security, and fostering creativity within the sector.
Digital assets and legal framework
A key point emphasized during the unveiling of the strategy involves giving legal standing to digital assets. The goal is for the nation to establish clear regulations surrounding these assets.
“The legalization of the definition of Digital Assets is one of the actions to realize the Vietnamese Government’s commitment to preventing and combating money laundering, terrorist financing, and financing of proliferation of weapons of mass destruction.”
Vietnam aims to bolster its blockchain sector by adopting global standards and treating digital assets as property under civil law.
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2024-10-23 16:52