Published: 24.04.2022
Article reading time:
1 min.
Authorities and business representatives jointly launched the Vietnam Blockchain Union (VBU), designed to advise investors and help local cryptocurrency projects.
The Vietnam Digital Communications Association (VDCA) announced that the Union should provide advisory services to individuals and legal entities operating in the cryptocurrency market. VDCA President Nguyen Minh Hong believes that blockchain and artificial intelligence are the key technologies of the fourth industrial revolution:
“With the ability to exchange information and data in real time, sustainability and high security, blockchain has become one of the disruptive technology trends with wide application in many areas, including finance, healthcare, education, intellectual property, logistics, entertainment and agriculture.”
VBU Chairman Dang Minh Tuan said that he believes blockchain has the potential to turn Vietnam into a highly developed technological country. The new structure will have to join forces with the government to develop regulation of the local crypto industry.
Cryptocurrencies and blockchain in Vietnam are at a high level of social acceptance. According to a study by Chainalysis, the country ranked first in 2020 in terms of the speed of adoption of cryptocurrencies. The study involved 154 countries, Vietnam’s neighbors – Thailand and China – took 12th place. The world’s leading economy, the United States, ranked 8th.
Source: Bits
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