A newly formed blockchain association aims to help Vietnam boost its digital economy and position the country on the world’s technology map. The organization aims to unite Vietnam’s experts in this field and seek cooperation with blockchain communities around the world for the research and development of blockchain solutions.

Vietnam is expanding the implementation of blockchain technologies

The Vietnam Blockchain Association, the first such organization in the country’s crypto space, was founded in the capital Hanoi on Tuesday as it held its first congress. The main purpose of the new body is to allow blockchain experts to join forces in promoting the development of Vietnam’s digital economy and to help the Asian nation find its place on the global technology stage.

The association will be tasked with expanding ties with similar organizations and communities around the world, Việt Nam News reported. Another important goal will be to attract investment for the country’s blockchain industry and train personnel in the digital sector.

It will also be tasked with creating favorable conditions for its members to share experiences and resources for research, testing and deployment of blockchain technologies while complying with relevant Vietnamese laws.

According to a statement from the organization’s chairman, Hoàng Văn Huây, the Vietnam Blockchain Association is committed to raising community awareness and advising the government on the development and adoption of standards and regulations to support the offering of blockchain-based products and regulate services.

According to the VNS, the decision to found the association came from the Ministry of the Interior. Vietnam has focused on exploring blockchain applications that can be used in many industries such as finance, logistics, and retail. Vietnamese authorities have also supported the development of blockchain solutions that can bring socio-economic benefits.

The Vietnam Blockchain Association is starting its activities as the Hanoi government takes steps to create a legal framework for cryptocurrencies. As Bitcoin.com News reported in March, Vietnamese Deputy Prime Minister Le Minh Khai has ordered several ministries to work with the State Bank of Vietnam on the new framework.

tags in this story

Blockchain, Blockchain Association, Blockchain Community, Blockchain Development, Blockchain Industry, Blockchain Products, Blockchain Services, Crypto, Cryptocurrencies, Cryptocurrency, Regulations, Standards, Vietnam, Vietnamese

Do you expect Vietnam to devote more resources to blockchain development? Tell us in the comment section below.

Lubomir Tasev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchen’s quote: “Being a writer is what I am, not what I do.” Along with crypto, blockchain and fintech, international politics and business are two other sources of inspiration.

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