Vietnam announces blockchain strategy, aims to lead Asia by 2030

On October 22, Vietnam officially launched its National Blockchain Strategy, with the ambitious goal of becoming a leader in blockchain technology across Asia by 2030. The strategy outlines critical steps to foster the country’s blockchain ecosystem, focusing on legal frameworks, infrastructure development, and innovation to support the growth of blockchain-based platforms, products, and services.

Vietnam’s vision is to establish itself as a regional leader, with plans to create 20 reputable blockchain brands by 2025. The country aims to play a pivotal role in research, deployment, and application of blockchain technology, striving to secure an international position in the field.

The National Blockchain Strategy includes the creation of blockchain testing centers in major cities, which will serve as hubs for blockchain development, ensuring security, fostering innovation, and contributing to the formation of a national blockchain network.

Vietnam’s Five Blockchain Goals:

To support these ambitious objectives, the government has laid out five key goals:

• Improve the legal environment: Developing a supportive regulatory framework for blockchain adoption.
• Build blockchain infrastructure: Strengthening the technical foundation for blockchain systems.
• Develop human resources: Training professionals skilled in blockchain technology.
• Promote research and international cooperation: Encouraging innovation and global partnerships in blockchain.
• Encourage blockchain application growth: Expanding blockchain use cases across various sectors.

To achieve these objectives, Vietnam plans to foster collaboration between digital technology companies, enabling them to create blockchain platforms and enhance the competitiveness of local firms on the global stage.

The Vietnam Blockchain Association will play a crucial role in driving initiatives and overseeing the implementation of the strategy.

Vietnam’s Blockchain Ambitions

The launch of the National Blockchain Strategy positions Vietnam as a serious player in the global blockchain arena, with long-term objectives focused on growth, innovation, and positioning the country as a key hub for blockchain research and applications in Asia.

The announcement comes at a time when Indonesia has surpassed Vietnam in Chainalysis’ Global Crypto Adoption Index, ranking third behind India and Nigeria—underlining the importance of Vietnam’s blockchain push to maintain its competitiveness in the region.

By 2030, the strategy envisions Vietnam as a prominent blockchain leader, ensuring its place at the forefront of the evolving digital economy.