The Vietnam Blockchain Union was launched in the capital city of Hanoi on May 17, the first official legal entity specialising in the field of blockchain technology.
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Hanoi (VNA) - The Vietnam Blockchain Union was launched in thecapital city of Hanoi on May 17, the first official legal entityspecialising in the field of blockchain technology.
The union will gather blockchain research and application enthusiaststhroughout Vietnam. It aims to promote the nation's digital economy inother to mark Vietnam’s position on the world technology map.
Amongthe union's tasks include expanding relationships withblockchain organisations and communities around the world and creatingfavourable condition for members to share experiences and resourcesto research, test, apply, deploy and trade blockchain technology in accordancewith Vietnamese law. Attracting investment for the operation of theblockchain industry and focusing on training and developing digital humanresources are other ones.
TheVietnam Blockchain Union was committed to making contributions toraising community awareness and advising on the development of legal corridors,standards and regulations in the application and development of products andservices on the blockchain technology platform, Hoang Van Huay, chairmanof the union, said at the first congress on May 17.
Vietnamhas been focusing on researching and applying blockchain, a form of datastorage and transmission technology using encryption. The union has beenestablished under Decision No 343/QD-BNV of the Ministry of HomeAffairs.
Dueto its transparency in data sharing, high confidentiality and trustworthiness,blockchain is being used in many industries such as finance, logistics andretail.
Atthe same time, the State has supported the development of blockchaintechnology applications in socio-economic fields, in which pilot priority isgiven to businesses deploying feasible blockchain projects, bringing benefitsto society./.
VNA
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