Vietnam has Alliance to consult legal framework on Blockchain, cryptocurrencies

On the morning of April 21, in Hanoi, the launching ceremony of the Vietnam Blockchain Union (VBU) took place.

This is an alliance of the Vietnam Digital Media Association with the mission of connecting the community and advising and advising regulatory agencies to develop policies and legal frameworks on Blockchain, digital assets, and digital currencies.

Sharing at the event, Mr. Nguyen Minh Hong – Chairman of Vietnam Digital Communications Association (VDCA) said that in the industrial revolution 4.0, together with AI, Big Data, Robotic, Blockchain is considered the key technology for digital transformation.

With the ability to share information and data transparently in real time, sustainably and with high security, Blockchain has shown to be one of the breakthrough technology trends with wide applicability in many industries. fields such as finance, health care, education, intellectual property, logistics, entertainment, agriculture. Blockchain is also seen as the driving force of the next-generation Internet that many call Web 3.0.

In the top 200 Blockchain companies in the world, there are about 5-7 companies founded by Vietnamese people. About 10 Vietnamese startups in the Blockchain field have a market capitalization of over 100 million USD. In it, there have also appeared technology unicorns.

According to Mr. Nguyen Minh Hong, Blockchain is being affirmed day by day as an important agent of the digital economy and this technology has helped Vietnam make a mark with world powers.

Aware of the above trend, the Vietnam Digital Media Association has issued a decision to establish the “Vietnam Blockchain Alliance Club” (referred to as the Vietnam Blockchain Alliance).

Sharing about VBU’s vision, Mr. Dang Minh Tuan – Chairman of Vietnam Blockchain Alliance said, for many years, we have been struggling to find a technology solution to help Vietnam break through. In the field of technology, Blockchain is the most disruptive technology.

“There are digital coins whose value has increased by 680 million times within 11 years. That is an unprecedented growth rate in history,” said Mr. Tuan.

In Vietnam, in the field of Blockchain, our country also has unicorns, even leading in some areas, namely Blockchain games. That is the game Axie Infinity with a total market capitalization that has exceeded $ 9.7 billion, 3 times the capitalization of FPT Corporation. Up to now, Vietnam has more than 200 Blockchain games and is leading the market.

According to Mr. Dang Minh Tuan, these are proofs that Blockchain can make a breakthrough. The Vietnam Blockchain Alliance will become a bridge between the business community and authorities to build a legal framework for Vietnam. That must be the policy that makes Vietnam break through and succeed in the field of Blockchain as well as the digital economy.

Trong Dat