The Vietnam Banks Association (VNBA) held a seminar on October 26 entitled “Opportunities and challenges to apply blockchain to operations in the banking and financial sector”. A representative from Vietcombank pointed out the many obstacles for banks in applying blockchain, including the high cost of research and infrastructure investment and the long period needed to synchronize transition with other systems. A TPBank representative said it is necessary for banks to pilot a sandbox to successfully apply blockchain.
At the Vietnam Blockchain Summit 2022 taking place in two days, October 19-20, 2022, organized by the Vietnam Software and Information Technology Services Association (VINASA) and the Vietnam Blockchain Association (VBA), experts said that Vietnam is one of the potential markets and one of the bright spots in Blockchain technology. Vietnam has more than 10 enterprises in the top 200 blockchain enterprises in the world, which is the premise for blockchain projects in Vietnam to continue to develop.
At the first Vietnam Blockchain Summit 2022, on October 19 and 20, experts said that Vietnam has among the greatest potential in blockchain and is a bright spot in the sector. More than 10 Vietnamese enterprises appear among the world’s top 200 blockchain enterprises, which is a foundation for blockchain projects in the country to continue to develop.
According to the 2022 Global Crypto Adoption Index published by blockchain data analytics company Chainalysis, Vietnam ranks first out of 146 countries and territories in terms of cryptocurrency adoption, followed by the Philippines, Ukraine, India, the US, Pakistan, Brazil, Thailand, Russia, and China. This is the second straight year Vietnam has led the index, which was first published in 2019.
Forty-one of Vietnam’s 63 cities and provinces have prepared a smart city development project. At a conference on blockchain applications held on August 18, analysts said metropolises like Ho Chi Minh City and Hanoi have the potential to build smart cities if there are appropriate policies focusing on three platforms: the Internet of Things (IoT), human resources, and real estate.
DIG, a multinational blockchain technology corporation headquartered in Dubai, will co-found a world-class gaming studio called Wild Thunder Studio in Vietnam with the innovative use of blockchain technology.