30s Summary

Vietnam’s Ministry of Information and Communications has announced their National Blockchain Strategy. The strategy aims to develop the country’s blockchain ecosystem, create relevant laws and stimulate innovation within the context of the Fourth Industrial Revolution. The government aims to establish 20 blockchain brands, set up at least three testing centres nation-wide, and improve the legal acceptance of digital assets, to meet international standards and recognize such assets as protected under local law. The main areas of focus include developing the legal infrastructure, human resources, application of blockchain technology, and supporting research and international cooperation.

Full Article

Vietnam is jumping on the blockhain wagon! The country’s Ministry of Information and Communications made an announcement on the 23rd of October about their new National Blockchain Strategy. With this plan, they want to boost blockchain tech, cook up some relevant laws and stoke the fires of innovation – all in the name of this thing they call “the Fourth Industrial Revolution.”

This strategy focuses on five main things which will be guided by government bodies like the MIC and the Vietnam Blockchain Association. According to the official word, these five things are:

1. Cleaning up the legal environment
2. Building an infrastructure to create a blockchain industry ecosystem
3. Developing human resources for the Blockchain field
4. Encouraging the development and application of Blockchain
5. Boosting research, innovation, and international cooperation

The main aim of Vietnam’s blockchain game plan is to grow its blockchain ecosystem. The government wants to create 20 blockchain brands for platforms, products, and services. Further more, they want to set up at least three testing centers in big cities to form a national blockchain network. These centers will be super important for developing and implementing blockchain applications, securing their safety and driving more industry innovation.

Another major point discussed in the strategy is the legal acceptance of digital assets—the country aims to make rules around them more structured: “The legalization of the definition of Digital Assets is one of the actions to realize the Vietnamese Government’s commitment to preventing and combating money laundering, terrorist financing, and financing of proliferation of weapons of mass destruction.” Vietnam has set some ambitious goals to pad up its blockchain industry by matching international standards and recognizing digital assets as protected under their law.

Source: Cointelegraph