Blockchain Forum – Vision and Development Trend took place on June 14th, 2018 at JW Marriot Hanoi Hotel. This is the first time in Vietnam there is an event attracting hundreds of experts, entrepreneurs, managers both in and out of the country to discuss the Blockchain.

“Blockchain Forum – Vision and Development ” is a prestigious forum organized by online news VnExpress under the guidance of the Ministry of Science and Technology. A forum is a place where the awareness and the gist of blockchain technology will be disseminated to Vietnam’s policymakers, blockchain community in particular and to the public. Many representatives from countries which successfully implemented the blockchain and attract international investment such as Singapore, Dubai, Malta and China. joined the discussion at the event.

The agenda:

  • Trends in Global Blockchain Technology.
  • An overview of the development of blockchain technology in Vietnam.
  • Policy recommendations, action plans, vision to 2025.

For four hours, there are three sessions. The inauguration speech was delivered by Mr. Nguyen Van Binh – Member of, Secretary of the Party Central Committee, Head of the Central Economic Committee,. According to Mr. Nguyen Van Binh, Blockchain technology is expected to lead the other technologies in the future.

In the first session, local and foreign experts discussed the global blockchain development trend and how this technology make an impact. Experts joining the session include: Mr. Wayne Grixti – Advisor – Malta National Task Force; Ms. Mastura Ishak – Blockchain Program Manager – Malaysia Industry-Government Group for High Technology (MIGHT); Mr. Adam Vaziri – General Director of QRC Group; Mr. Tong Hsien-Hui – Deputy Director of Investments SGInnovate; Mr. Dane Elliott – Business Director of Achain. Speakers in this session shared the difficulties and approaches in each country to support blockchain technology.

Speakers in the first session (Photo Source: Vnexpress)

In the second session, Mr. Do Van Long – Regional Director of Infinity Blockchain Labs presented a speech on “The development of blockchain technology in Vietnam”. According to Mr. Long, blockchain technology in Vietnam is making the great leap, with applications in specific industries. Mr. Long discussed blockchain application in agriculture with the trace verifying the application. Mr. Long emphasized the role of training and training in the application of this new technology in Vietnam.

Mr. Do Van Long – Regional Manager of Infinity Blockchain Labs (Source: VnExpress)

Afterward, experts in the panel discussed opportunities and challenges when applying blockchain in Vietnam. Participants included: Mr. Dang Minh Tuan – Director of QNET Blockchain Research Center; Mr. Vuong Quang Long – Founder and Director of Tomochain; Mr. Do Van Long – Regional Manager of Infinity Blockchain Labs; Mr. Nguyen The Trung – General Director of DTT Technology Joint Stock Company; Mr. Nguyen Van Vung – co-founder and director of Bigbom. Each expert suggests 3 key initiatives to build a legal framework and human resources, training for blockchain in Vietnam.

Speakers in the first session (Photo Source: Vnexpress)

At the end of the show, Mr. Manfred Otto – Senior Consultant of Duane Morris Vietnam made the suggestion to build a legal framework for blockchain in Vietnam. 7 experts joined the panel discussion in “Super Session” on how to speed up blockchain technology development later on.

From the second half of 2017, blockchain technology has boomed globally. Many countries such as Singapore, Malta, and Dubai are open to blockchain applications as well as the creation of the legal framework to embrace innovation. Meanwhile, many other governments approached blockchain technology with the cautious move.

Forbes magazine stated that if interested, investing, developing in the right direction, the blockchain in Vietnam market will achieve rapid growth rate. According to Infinity Blockchain Labs, Vietnam currently has about 20 startups blockchain with registered office in Vietnam.

Blockchain is defined as the technology for storing and transmitting information, data by blocks linked together, and expanding over time. With its decentralized, transparent and high-security features, blockchain is a revolutionary technology that drives change in the future and is used in many industries and areas.

With intelligent information storage and smart contract, blockchain technology can be applied to many areas of life such as accounting, import and export of goods, traceability of products, retail, In addition, Vietnamese companies can apply blockchain in specific areas such as medical records management, citizen data management, product supply chain, agriculture (traceability of food), stock issuance, money transfer transactions…

Ryan Hoang

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