Vietnam Bets Big on Blockchain With Ambitious 2030 Strategy

• Vietnam’s National Blockchain Strategy seeks to create 20 top blockchain brands and three testing centers by 2030.
• The Vietnam Blockchain Association will develop “Made in Vietnam” platforms to boost competitiveness and global collaboration.
• The strategy aims to improve digital infrastructure, enhance regulations, and train skilled blockchain professionals by 2030.

Vietnam introduced its National Blockchain Strategy, outlining ambitious goals for technological innovation. Approved by Deputy Prime Minister Ho Duc Phoc and issued under Decision No. 1236/QD-TTg, the strategy highlights blockchain’s importance in the Fourth Industrial Revolution.

The plan aims to improve digital infrastructure and data security and drive growth in the digital technology industry. It also sets the goal for Vietnam to become a regional leader in blockchain by 2030.

Key Objectives and Vision for 2030

The strategy sets the goal for Vietnam to become a regional leader in blockchain development by 2030. The government plans to establish 20 recognized blockchain brands for platforms, products, and services. Additionally, Vietnam will maintain three blockchain testing centers or special zones across major cities, creating a national blockchain network. The country also seeks representation among the top 10 blockchain training and research institutions in Asia.

The plan’s broader vision targets developing a strong legal environment, improving infrastructure, and fostering a blockchain ecosystem. It also emphasizes human resource development, research, innovation, and international collaboration. These efforts will lay the foundation for a globally competitive blockchain industry.

Action Plan for 2024-2030

Vietnam’s action plan for the blockchain sector includes five major initiatives. First, it will clarify the legal framework by creating clear regulations for blockchain applications. Second, the government will build a comprehensive blockchain ecosystem, encouraging collaboration between the public and private sectors. Third, the plan prioritizes training a skilled workforce to drive blockchain innovations.

Moreover, the government aims to promote research and the application of blockchain technology. This will involve collaborating with local enterprises and global institutions to enable technology transfer and knowledge sharing. The plan also prioritizes international cooperation and will foster partnerships with leading blockchain nations.

Vietnam Blockchain Association’s Role

The Vietnam Blockchain Association (VBA) will play a key role in implementing the strategy. The VBA will develop “Made in Vietnam” blockchain platforms, prioritizing domestic innovation. It will also establish operational mechanisms for various blockchain networks using Vietnam’s infrastructure.

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The association will bring together local tech firms to foster collaboration and competitiveness. It will work to establish global partnerships, ensuring Vietnam’s blockchain industry meets international standards. The VBA emphasizes transparency, safety, and sustainability, aligning with the government’s goals.

Strategic Impact on Vietnam’s Digital Economy

The National Blockchain Strategy highlights Vietnam’s commitment to a digital economy. It aims to use blockchain to build trust in digital transactions, enhance data security, and support technological innovation. The strategy is intended to boost Vietnam’s competitiveness regionally and globally.

Furthermore, the government expects blockchain adoption to stimulate economic growth, improve public services, and create new job opportunities. Successful implementation of this strategy will establish a strong foundation for a more advanced digital society by 2030.