Vice Chairman of the Vietnam Blockchain Association, Huy Nguyen, dismissed from the association

HANOI, Vietnam, Feb. 16, 2023 (GLOBE NEWSWIRE) — At the first extraordinary meeting on February 14, 2023, the termination of membership was approved for the following members: Vice Chairman Huy Nguyen, Standing Committee Member Pham Minh Tri, and Executive Committee Member Pham Toan Thang. Deputy chairman Huy Nguyen and member of the standing committee Pham Minh Tri have been removed from all relevant positions. The decisions were adopted by 100% of the members who attended the extraordinary meeting.

According to the resolution of the executive committee, the three members have violated the association’s bylaws, acted and spread misinformation in a way that seriously damaged the association’s reputation and honor, and caused internal discord.

Hoang Van Huay, VBA Chairman and former Vice Minister of the Ministry of Science and Technology shared, “We have witnessed the collapse of the cryptocurrency blockchain application market in countries such as the United States and South Korea, from individuals who were once rising stars such as Sam Bankman-Fried or the Do Kwon of economic criminals in hiding. The problem is not in the technology, but behind the technology. Therefore, ethics should be taken more seriously than ever when working with technological solutions.”

In order to create a transparent and quality environment for blockchain applications in Vietnam and become a solid and long-term bridge between Vietnamese blockchain talents and global organizations and communities, VBA focused on implementing a plan to monitor information system security, ensure general information security and take steps. to register for cyber trust certification, to create trust from participants and confirm the legitimacy of VBA in cyberspace.

“The inevitable personnel change is to increase the society’s reputation, create legal value, comply with and operate the standards of the Vietnam Blockchain Association. At the same time, we are always ready to connect and open to suggestions for development from national and international associations, companies, and societies,” added chairman Hoang Van Huay.

Recently, at the Vietnam-Singapore Business Forum chaired by Prime Minister Pham Minh Chinh, the Vietnam Blockchain Association was one of the organizations representing Vietnam’s innovative technology sector. The forum will discuss the investment environment, digital transformation and green energy in the context of the global economy, with 500 companies from Singapore and Vietnam participating on 10 February.

On February 16, VBA representatives participated in the exchange program to connect with leaders from 19 organizations and associations in the technology industry and other economic sectors, as well as many enterprises in Hanoi.

By 2023, VBA aims to develop and bring together experts in technology, legal and financial professionals who meet professional, ethical standards. The association will continue to publish standards for the blockchain market, including fraud identification and information security standards, and promote the community to develop platform blockchain technology (Blockchain layer 1). These are parts of the six goals VBA has aimed towards since its establishment.

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