Vietnam is among the top countries in the world in terms of virtual asset (VA) ownership, according to Nguyen The Vinh, the founder of Ninety Eight.

Vietnam has many firms that provide smart technology solutions such as AI and blockchain to the world market, but many Vietnamese enterprises are not using the technologies.

Experts, including Vitalik Buterin, believe that Vietnam can take full advantage of its ICT human resources to develop the blockchain industry.

Vietnam’s farm produce has uneven quality and information about products lacks transparency, which hinders exports from entering the high-end market segment.

The blockchain industry has been increasing with two-digit growth rates over the last decade. Staff will be the key to the development of the digital economy.

Hoang Van Huay, former deputy minister of Science and Technology and chairman of the Vietnam Blockchain Association, emphasised the importance of promoting blockchain applications in universities and educational institutes.

Da Nang has consulted with many experts and placed orders with many companies, but has not received advice about an application domain for blockchain technology.

Blockchain can be used in many stages of the process of operating a digital editorial office, thus contributing to the digital transformation of Vietnam’s news industry.

Vietnam’s largest global blockchain conference, NEAR APAC 2023, is set to take place in Ho Chi minh City on September 9 – 10.

Many blockchain projects in the Netherlands have developed by Zestif, a startup founded by a Vietnamese, Crys Nguyen, born in 1992.

Blockchain is increasingly influential in all aspects of life in Vietnam and is expected to play an important role in the digital economy.

The wide applicability and huge connected data store created from blockchain have made this technology increasingly important in the progress of realising the goal of bringing the digital economy to 20 per cent of GDP, as set by the government.

The Vietnamese-developed browser and search engine CocCoc will join KardiaChain to develop an integrated wallet to promote the use of Blockchain and Web3.

The voting and scoring of beauty contestants will be done in a transparent way thanks to technology application.

A scarcity of human resources to develop blockchain is not unique to Viet Nam and even in tech hubs such as Silicon Valley in the United States, India or China, the shortage of blockchain personnel is a common problem, experts said.

Vietnam is among the countries with a high number of companies using Blockchain. It is also among the leading countries in the digital asset adoption index ranked by Chainalysis.

Incomplete legal corridors, high investment costs, time-consuming data synchronization and a lack of qualified personnel have made it hard for Vietnamese banks to embrace blockchain technology.

Vietnam has established a foothold in the world’s software industry, Truong Gia Binh, chairman of the founding council of the Vietnam Software Association (Vinasa), said.

The Vietnam Blockchain Union (VBU)’s newly released Vietnam Blockchain Report 2022 has revealed an overview of the country’s blockchain market this year.