Vietnam launches the National Blockchain Strategy to promote the development of this technology by 2025, focusing on the legal framework, infrastructure, and international cooperation.
Vietnam officially announces the National Blockchain Strategy
The Ministry of Information and Communications (MIC) announced this strategy on October 23, with many important goals to develop the country's blockchain capabilities. The strategy aims to develop blockchain technology, build a suitable legal framework, and drive innovation in the so-called "Fourth Industrial Revolution".
The strategy sets out 5 focus areas overseen by government agencies, including MIC and the Vietnam Blockchain Association. According to the official announcement, the 5 key actions include:
"(1) Perfecting the legal environment; (2) Developing infrastructure and forming a blockchain industrial ecosystem; (3) Developing human resources; (4) Promoting the development and application of Blockchain; (5) Strengthening research, innovation, and international cooperation."
The Vietnamese government currently plans to build 20 blockchain brands for platforms, products, and services.
Additionally, the Strategy aims to establish at least three test centers in major cities to create a national blockchain network. These centers will play a crucial role in the development, deployment of applications, ensuring security, and driving innovation in the industry.
Digital assets and legal framework
An important element mentioned in the strategy is the legal recognition of digital assets, as the country moves towards formalizing regulations in this area:
"Legalizing the definition of Digital Assets is one of the actions to fulfill the commitment of the Vietnamese Government in anti-money laundering, combating the financing of terrorism, and the financing of the proliferation of weapons of mass destruction."
By aligning with international standards and recognizing digital assets as protected under civil law, Vietnam is setting ambitious goals to strengthen its blockchain industry.
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