Will Vietnam become a leading blockchain center?

Vietnam hopes it will be a blockchain center

Dang Minh Tuan, director of QNET, an ICT training center, at a Blockchain Forum, an important event held in early June, mentioned Vietnam’s great opportunities in developing blockchain, saying that Vietnam has opportunities equal to other countries.

Tuan urged the government to create reasonable policies to stimulate the development of science & technology and blockchain.

He said ‘khoan 10’ (a policy of 30 years ago allowing cooperatives to distribute land to households) in the past helped turn Vietnam, which lacked food, into a leading rice exporter in the world.

If Vietnam also has a ‘khoan 10’ in science & technology, it will help the country become a power in blockchain technology.

While some experts strongly believe that Vietnam will become a leading blockchain center in the world, others say it would be better not to indulge in illusions.

“Vietnam doesn’t have the opportunity to become a large finance center of the world, but it has opportunities with blockchain,” he said.

Head of the Communist Party Central Committee’s Commission for Economic Affairs Nguyen Van Binh said at the Blockchain Forum that blockchain is predicted to be technology that drives the 4.0 revolution in the next few decades.

Kimble Ngo, the founder of Amp Marketing Blockchain, said at Blockchain Vietnam Week that Vietnam has great potential to become a R&D blockchain hub of the world.

Nguyen Thanh Hung, chair of the Vietnam E-commerce Association, said that if Vietnam wants to be among top 5 or top 10 blockchain centers in the world, it needs to build up a qualified workforce.

Hung said in 2000, Vietnam was overly confident, believing that Vietnamese are very good at math and coding. So it decided it would export $500 million worth of software by 2015.

Nearly 20 years have elapsed and Hung, who was head of the E-commerce Agency of the Ministry of Industry and Trade, said ‘the illusion has been eased, but it still exists’.

He said that he wants Vietnam to become a ‘medium country in ASEAN in blockchain’, and that this was also a difficult task as Vietnam has to outstrip Singapore, Malaysia, Thailand and Indonesia.

Another analyst said that government officials have recently emphasized the need to develop blockchain, but the country still doesn’t have macro policies to lead blockchain activities of research, training and utilization.

[Source: english.vietnamnet.vn 20th June 2018]