Vietnam Blockchain Summit 2022 discussed Vietnam’s future, digital transformation and CBDC
The Vietnam Blockchain Summit 2022 (VBS 2022) was a success. Organized by Vietnam Software and IT Services Association (VINASA) and Vietnam Blockchain Association, the event took place on October 19 and 20, 2022 at the National Convention Center. The conference attracted the participation of more than 2,000 heads of agencies, associations, companies and leading experts on blockchain policy and technology nationally and globally over the event’s two days.
Gia Binh Truong, chairman of both VINASA and FPT Corporation, shared in his keynote speech: “Blockchain has good properties of anti-counterfeiting, transparency and decentralization. These are extremely promising conditions for the creation of digital twins in an era of extensive digital transformation. Blockchain making breakthroughs in many industries. By 2021, in the financial sector, $6 trillion will be traded within a single Ethereum chain, compared to $1.25 billion on Paypal and $13 trillion on Visa. Various countries such as the UAE, Estonia, Luxembourg and Switzerland have added blockchain into population management and electronic identity IBM, Amazon and McKinsey have brought blockchain into supply chain management The world will save $450 billion in annual trade due to counterfeit products and reduce hundreds of thousands of deaths from 10% of counterfeit medicines by using blockchain in these areas.”
According to experts, Vietnam is currently a market with some of the highest potential for blockchain. Blockchain projects developed in Vietnam are resonating in the world market, shaping blockchain technology platforms and solutions, and attracting many investors. Of the top 200 blockchain companies in the world, more than 10 are Vietnamese. This is a strong foundation for the blockchain industry to continue to develop in Vietnam. In addition, the Vietnamese government is always ready to build corridors for new technologies to grow to serve the national digital transformation towards creating breakthrough growth. In 2020, the Prime Minister signed a list of priority technologies for research, development and application to actively participate in the fourth industrial revolution, including blockchain technology. It has now extended to the development of a digital central bank currency.
Vietnam Blockchain Summit 2022 is positioned as an annual international event and has become one of the most attractive blockchain events in the world. In its first year, the event attracted more than 2,000 delegates, with more than 50 speakers, including nearly 300 international delegates from more than 30 economies – the powerhouses of blockchain technology, as well as other regions around the world such as the UAE, Singapore, Malaysia, China, USA, South Korea, UK, France, Dubai and more.
The Vietnam Blockchain Summit 2022 included a conference and an exhibition that showcased blockchain platforms, solutions and networking opportunities. The speakers focused on in-depth discussions on special announcements regarding new technology startups, technological progress and growth, sharing of experiences, investments and general upcoming trends and predictions. Some featured topics among the total of 20 sessions discussed were: Rethinking our approach to blockchain in the DX era; What stablecoins and CBDC mean for the coming transformation of finance; Unleash the power of blockchain in the enterprise; The future of digital assets through the lens of FTX; Moving Forward: Mass Adoption of Digital Assets and the Future of Online Commerce; The Web3 winter hasn’t dulled the appetite for VC investment; and many more. The event brought together high-profile speakers from FTX, DFG, OKC (OKX Chain), AAX, Cointelegraph, Jsquare, Gala, Sky Mavis, Binance, BNB Chain, Chainalysis, AWS, Kyber Network and more.
Duc Trung Phan, Vice President of Vietnam Blockchain Association shared at the event: “While traditional databases only track records of individual entities, blockchain connects a group of entities and allows data to be synchronized between multiple independent stakeholders. That is why blockchain technology opens up new applications in the the global economy. The first Blockchain Summit in Vietnam today will create technology consulting connections, and help promote the digital economy in the near future. The event will provide insightful information about this industry and recognize appropriate compliance policy recommendations as national and international organizations develop business models that is using blockchain technology in Vietnam. In the future, when blockchain technology becomes the economic infrastructure, a central bank digital currency known as a CBDC will be a necessary step forward in legal currency transactions worldwide. At this point, the CBDC will be designed as a financial services platform to bridge many gaps in today’s digital market system.”
Over the years, Vietnam has always been rated as one of the fastest growing countries in the world. But to maintain growth in a sustainable way, new innovations and new solutions are needed. Vietnam is also undertaking a comprehensive national digital transformation, and new technologies that can create breakthrough growth and development are always the interest of leaders at all levels.
