Tu said at the CTO Summit 2022 that Blockchain is opening up many opportunities of using technology, creating a startup and innovation wave around the world and in Vietnam.

Blockchain, as a way to store and manage data according to a decentralized mechanism, with the ability to ensure information integrity, can be used in many different contexts.

“Cryptocurrency is seen as the most popular app of Blockchain, but it is not the only app,” Tu said.

“With its influence, Blockchain will create a technological tsunami that covers all industries from traditional to latest applications,” he said.

Vietnam began to use Blockchain very early and ihas gained initial results. According to Chainalysis, Vietnam is the country with the highest Blockchain application adoption index.

In 2020, the government listed Blockchain as one of the technology fields in the list of priorities for research, development and application in the 4th industrial revolution.

FPT’s CTO believes that with the ability to explore opportunities in many fields, Blockchain is gradually becoming a technology pillar in Vietnam in a number of fields such as digital government, logistics, retail, fintech, healthcare, agriculture and entertainment.

According to Tu, Blockchain technology has four major applications that have important significance. 

First, supply chain management. “For example, when we enter a restaurant and eat a dish. How can the restaurant control the input materials? Blockchain can do this,” he said.

Second, insurance and healthcare sectors. The application of Blockchain will help solve problems, allowing health information systems to work together to promote efficient healthcare delivery for individuals and communities.

Third, real estate investment programs. In Vietnam, companies  divide assets into tokens. Owning these tokens is a way for someone without much money to become involved in real estate investments.

Fourth is electronic identification. Blockchain is the best platform for electronic identification.

“I believe that with the impulse given by the government, electronic identification will soon become common to everyone,” he said.

Trong Dat