Vietnam unveiled its National Blockchain Strategy in an announcement on October 23 and set ambitious goals to improve its blockchain capabilities.
The initiative aims to position Vietnam as the region’s leading hub for blockchain research, application and innovation by 2030.
According to the document, the Vietnamese government identified blockchain as a crucial technology in the Fourth Industrial Revolution, indicating its importance for future development.
Phan Duc Trung, Permanent Vice President of the Vietnam Blockchain Association, described the strategy as a pivotal moment for Vietnam and emphasized the government’s commitment to building a transparent, secure and sustainable digital economy.
Vietnam’s blockchain vision
Vietnam aims to be at the forefront of blockchain technology and promote its research, implementation and application.
By 2030, the country aims to build a robust international presence by fostering renowned blockchain brands and developing critical infrastructures that will support innovation. This plan also aims to position Vietnam as a top destination for blockchain research and training in Asia.
The strategy outlines a comprehensive approach to accelerate blockchain growth, including improving the regulatory framework and cultivating a strong industrial ecosystem.
The country also emphasized human resource development to ensure Vietnam has the skilled workforce needed to support this evolving technology. Moreover, the Asian country is trying to stimulate research and international cooperation, with the aim of being a major player in blockchain-driven developments worldwide.
Digital assets
Meanwhile, a crucial part of the strategy is the legal recognition of digital assets. Vietnam plans to align its regulatory framework with international standards to ensure that digital assets are legally recognized and protected as intangible assets.
These assets will be protected under civil law proprietary rights, intellectual property laws and other relevant regulations.
The government’s strategy emphasizes its commitment to preventing money laundering, the financing of terrorism and the proliferation of weapons of mass destruction by regulating digital assets in line with global standards.
This move is not surprising as the country is among the top five in global cryptocurrency adoption.