Once the legal bottleneck is removed, the Vietnamese blockchain market will attract more resources. This is also an important milestone for businesses in the industry to rise up after a long period of preparation.
Mr. Nguyen The Vinh, co-founder/CEO Ninety Eight and chairman of Ho Chi Minh City Blockchain Association - Photo: NVCC
Vietnam has full resources
* Vietnam aims to be among the region's leading blockchain groups by 2030. What specific opportunities does this open up for businesses and the blockchain community in Vietnam, sir? - Vietnam has many strengths in the blockchain space. Our country has a rate of Internet users accounting for more than 79% of the population and 61% of the population has smartphones. The young population structure, eager to explore new technologies, helps Vietnam be in the top five countries with the highest number of cryptocurrency users in the world. In addition, Vietnam is also the starting point of many famous blockchain startups in the world such as SkyMarvis , Kyber Network, Ninety Eight, Viction... They created the first personnel for the industry and helped the product be accepted in many countries. It can be said that Vietnam has all the resources in terms of experience, finance and most importantly, people to step into the leading position in the region in blockchain technology. To achieve this goal, in addition to the efforts of individuals or businesses, other social resources also come from. Although there are more advantages than other countries, human resources, capital and user acceptance in the blockchain market in Vietnam are only in the initial stage, not yet in the explosive stage. * From the five actions proposed in the National Strategy, which is the area where Vietnam can make its mark and gain advantages compared to other countries in the region? - All five strategic actions proposed are close to reality and clearly demonstrate the State's support for a new industry like blockchain. However, in terms of new startups in the field, the first factor: Perfecting the legal environment, is the most important. Having a perfect legal environment will be an extremely favorable first step for businesses. The draft Law on Digital Technology Industry is expected to be submitted to the National Assembly for the first comments at the upcoming 8th session. * What is the notable point of this draft? - This draft mentions regulations on digital assets. Accordingly, assets are created, issued, and ownership is authenticated using blockchain technology. Thus, the biggest difference between digital assets and virtual assets is blockchain technology.Building national image
* In your opinion, how can this strategy help Vietnam attract domestic and foreign investment in the blockchain sector? - The blockchain development strategy helps raise awareness, but the draft law on industrial technology that has been passed will concretize the development vision. The issuance of the strategy has helped change Vietnam's image in the international arena. Currently, most countries do not have laws for the industry, and do not have national planning strategies like Vietnam is doing. Some countries even issue bans on blockchain. In Vietnam, the steps taken by the management agency are generally to support the industry. Thus, blockchain startups in Vietnam have the opportunity to access capital from more famous funds thanks to the stability factor. * What needs to be done for Vietnam to build the image of a technology nation and attract investment capital in the blockchain sector? - The issuance of the strategy needs to be more widely communicated not only domestically but also internationally. Building the image of Vietnam as an open country with healthy technology development and a clear legal corridor. For example, Korea, Singapore, and Thailand have achieved success, partly thanks to the image of a technology country. They have adopted international events such as Thailand Blockchain Week, Token 2049, or Korea Blockchain Week. * What about Vietnam? - In Vietnam, events that have an impact on the global blockchain industry are not really formal, systematic, and mobilize social resources in many fields like the above countries. If such an event can be organized, combined with a friendly legal environment, proving the image of a pioneering country and thereby attracting investment capital is completely feasible. Of course, along with healthy capital flows, there will also be unhealthy projects and players in the market. Therefore, promoting development must go hand in hand with systematic control activities, avoiding financial consequences from investors' lack of knowledge.Tuoitre.vn
Source: https://tuoitre.vn/viet-nam-du-nguon-luc-dan-dau-khu-vuc-ve-blockchain-20250108120640839.htm#content
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