Vietnam aims to lead blockchain innovation with 2030 strategy

Vietnam identified blockchain as a crucial technology in the Fourth Industrial Revolution.

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Vietnam unveiled its National Blockchain Strategy, setting ambitious goals to advance its blockchain capabilities in an Oct. 23 announcement.

The initiative aims to position Vietnam as the region’s leading hub for blockchain research, application, and innovation by 2030.

Per the document, the Vietnamese government identified blockchain as a crucial technology in the Fourth Industrial Revolution, signaling its importance for future development.

Phan Duc Trung, Permanent Vice President of the Vietnam Blockchain Association, described the strategy as a pivotal moment for Vietnam, highlighting the government’s commitment to building a transparent, safe, and sustainable digital economy.

Vietnam’s blockchain vision

Vietnam aims to be at the forefront of blockchain technology, driving its research, deployment, and application forward.

By 2030, the country seeks to build a robust international presence by fostering reputable blockchain brands and developing critical infrastructures that will support innovation. This plan also aims to position Vietnam as a top-tier destination for blockchain research and training in Asia.

The strategy outlines a comprehensive approach to accelerate blockchain growth, including enhancing the legal framework and cultivating a strong industrial ecosystem.

The country also emphasized human resource development to ensure Vietnam has the skilled workforce needed to support this evolving technology. Additionally, the Asian nation seeks to boost research and international collaboration, aiming to be a key player in blockchain-driven advancements worldwide.

Digital assets

Meanwhile, a critical element of the strategy is the legal recognition of digital assets. Vietnam plans to align its regulatory framework with international standards to ensure digital assets are legally recognized and protected as intangible assets.

These assets will be safeguarded under property rights by civil law, intellectual property laws, and other relevant regulations.

The government’s strategy emphasizes its commitment to preventing money laundering, terrorist financing, and the proliferation of weapons of mass destruction by regulating digital assets in line with global standards.

The move is unsurprising, considering the country ranks among the top five in terms of global crypto adoption.