Vietnam Unveils National Blockchain Strategy For 2025-2030

According to ShibDaily, the Vietnamese government has announced Decision No. 1236/QD-TTg, which outlines a National Strategy for the application and development of blockchain technology through 2025, with a vision extending to 2030. This initiative aims to position Vietnam as a regional leader in blockchain technology, leveraging its potential to drive economic growth and digital transformation. The strategy, approved by Deputy Prime Minister Ho Duc Phoc, identifies blockchain as a key technology of the Fourth Industrial Revolution and emphasizes the need for a robust digital infrastructure to ensure data reliability and security. This foundation is seen as essential for the growth of Vietnam's digital technology sector. By 2030, the government envisions Vietnam not only as a regional leader in blockchain but also as an influential player on the international stage. The strategy sets specific goals, including the establishment of 20 reputable blockchain brands in platforms, products, and services, and maintaining at least three blockchain testing centers or special zones in major cities. Additionally, the government aims to have representatives among the top 10 blockchain training and research institutions in Asia. To achieve these objectives, an Action Program for 2024 to 2030 has been outlined, with various ministries, including the Ministry of Information and Communications and the Government Cipher Committee, overseeing each initiative. The Vietnam Blockchain Association (VBA) will play a significant role in this strategy, tasked with developing "Made in Vietnam" blockchain platforms and facilitating collaboration among digital technology enterprises. Mr. Phan Duc Trung, Permanent Vice President of the VBA, praised the National Blockchain Strategy as a significant milestone, expressing the association's honor in contributing to this initiative. He highlighted the importance of making blockchain technology accessible to all, as outlined in the national strategy. This move aims to align Vietnam with international practices and combat money laundering and terrorist financing, with the goal of removing the country from the Financial Action Task Force (FATF) grey list by May 2025. Since being placed on the FATF grey list in June 2023, the VBA has actively contributed to developing a legal framework for virtual assets. Through workshops and consultations, the association has provided critical insights to government agencies, reinforcing its commitment to creating a conducive environment for the growth of the blockchain industry.