Vietnam Blockchain Association ushers a new era in Blockchain Technology
14 Junio 2022 - 12:30PM
NEWSBTC
The Vietnam Blockchain Association has entered into strategic
cooperation with the leading cryptocurrency exchange Binance for
the growth of the nascent blockchain technology. Vietnam, the land
of the “Ascending Dragon,” has been an excellent market for
promoting and applying blockchain technology. The country has been
showing a keen interest in motivating research and development in
this technological domain. Earlier this month, both the entities
announced their cooperation in the exchange of research/application
of Blockchain Technology and Human Resource Training in Vietnam to
promote the development of blockchain technology in the country and
build a bridge with other significant technology corporations
worldwide. A Game-changing Partnership The recent announcement has
created ripples in the blockchain sector. After all, Binance is
unarguably the world’s largest blockchain development technology
corporation. This specific strategic partnership will be key to the
growth and development of blockchain technology in Vietnam in the
near future. In the recent past, we have seen countries
increasingly revising their jurisdictions to welcome
cryptocurrency. Digital asset adoption is a reality that can’t be
averted. Some countries are indecisive in legalizing it, but
overall, there are increasing cases of adoption. Vietnam has been
leading in this regard, opening to the limitless and robust crypto
sector, bringing a host of possibilities. “I think that clear and
effective regulation is essential for blockchain to be applied in
every corner of life, not just cryptocurrencies, DeFi, or NFT,”
said CZ (Changpeng Zhao), CEO, and founder of Binance in a
conversation with Huy Nguyen, co-founder of KardiaChain The
exchange is currently licensed to operate in Italy, France, Dubai,
Abu Dhabi, and Bahrain. CZ further ensured that Binance will always
comply with the local laws in Vietnam as well and put users in
focus which will help “Vietnamese users in particular and users
worldwide believe that Binance’s platform is one of the most secure
and reliable in the world.” Digital Transformation Blockchain
technology can actually help bring the fourth industrial revolution
to Vietnam. Mr. Ngo Duc Thang, Director of the Government Cipher
Committee, has been very particular regarding the development of
the crypto sector and has thus signed this strategic partnership.
“In the coming time, the Government will continue to facilitate,
encourage and promote early businesses to proactively accelerate
the digital transformation process in which blockchain technology
is the mainstay,” said Duc Thang. When it comes to employment
generation, the crypto sector can be decisive, creating around 40
million jobs by 2030 around the world. It is also anticipated that
10-20% of the global infrastructure will ultimately rely on
Blockchain Technology. In the coming years, Vietnamese people will
witness digital transactions through Blockchain promoted in many
fields, including banking services, industrial production, energy,
agriculture, healthcare, retail, and consumption. Overall, the
entire public sector is expected to benefit from the direct
applications of Blockchain Technology and drastically change many
aspects of daily life and global business. Promoting Blockchain
Application The Vietnam Blockchain Union was officially established
a few months back under the Vietnam Digital Communication
Association. Primarily, the sole purpose was to connect the
Blockchain community in Vietnam and also assist in policy
development issues and hand-holding in legal corridors. It is the
first legal entity to represent blockchain researchers, business
owners, and consultants in the country. At its Inaugural Ceremony
in May 2022, the Association announced a series of Action Programs
to promote blockchain technology’s application in a digital economy
and leverage Vietnam’s position on the global technology map. Its
mission is to share insights and resources for in-depth research
and application of Blockchain, develop products and services,
conduct business in compliance with Vietnamese law, and attract
investment to blockchain industry activities. “Hopefully, the
Association will utilize its resources for technology and science
projects in blockchain so Vietnam can create outstanding products,
become an active player in the global blockchain market, and
nurture the industry talents for the future,” said Nguyen Van Tung
– Deputy Minister of the Ministry of Science and Technology at the
ceremony. There is no denying the fact that the future of digital
communication will include Metaverse, Web 3.0, Artificial
Intelligence, and Blockchain. The formation of the Blockchain Union
has highlighted the motive of the Vietnamese Government to explore
the usage of Blockchain in work processes, increasing productivity
and promoting growth all along. Various Vietnamese institutions are
currently engaged in research and application of Blockchain in
technology products and services. KardiaChain’s co-founders -Huy
Nguyen and Tri Pham (also founder of Iron Sail), both hold
positions in the VBA and are looking forward to connecting more
organizations and individuals to the digital economy. Binance Will
Play a Pivotal Role In this strategic partnership, the role of
Binance is going to be pivotal. In no time, Binance has become the
largest online exchange in the world in terms of the daily trading
volume of cryptocurrencies. Binance also provides supporting
services for users to earn interest and transact using
cryptocurrencies. Binance has multifaceted utilities. Binance Info,
Binance Chain, Trust Wallet, Binance Research, Binance Academy, and
Binance Launchpad are some of the exclusive branches it provides to
crypto users and enthusiasts. It focuses on increasing the freedom
of money globally. With such a rich core team and technical
expertise, Binance has been a perfect fit for Vietnam, leading the
country with a new vision and motivation in the crypto sector. At
present, every year, crypto users are growing at a rate of over
100%. This is much higher and way ahead of the adoption rate that
the world of the internet witnessed in the 1990s and early 2000s.
Even if this rate of cryptocurrency adoption slows down to 80%,
cryptocurrency will still hit 1-billion users by 2024. Overall,
Vietnam is indeed on the right track, leading other countries in
the crypto world. In this fast-paced growth, the Vietnam Blockchain
Association will play an important role too. The Association is
promoting personnel training and attracting international
investment into Vietnam. “In its role, the Association connects and
gathers the Blockchain community in the country and a bridge to
bring Vietnamese products to the world and attract more
international resources to Vietnam,” said Phan Duc Trung, the Vice
President of Vietnam Blockchain Association. Image by
Gerd Altmann from Pixabay
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