Blockchain technology promises to fuel a wave of investment and innovation in Vietnam Economy

Blockchain technology promises to fuel a wave of investment and innovation in Vietnam hinh anh 1Illustrative photo: business product

Hanoi (VNA) – Blockchain technology can help Vietnam generate a wave of investment and innovation.

This was mentioned by some experts at the seminar “Using the Power of Blockchain to Promote a Wave of Investment and Innovation in Vietnam” organized recently by Binance at Station F in Paris, the world’s largest startup incubator.

Ms. Lin Hoang, Southeast Asia Director of Binance, said that digital transformation and the digital economy are among the top priorities of the Vietnamese government. From strategy to action, Vietnam shows its determination to grasp the general trend of the world.

“In 2021, Vietnam’s digital economy will reach US$21 billion, up 31% year-on-year, contributing more than 5% of the country’s GDP. It is expected to reach USD 57 billion in 2025, the second largest in Southeast Asia, which is a growth. The annual rate is about 29%,” said Ms. Linh Hoang, citing reports on Vietnam’s digital economy.

In venture capital, Vietnam also attracted record capital of US$1.4 billion in 2021, up from US$451 million in 2020. The total number of deals also increased significantly to 165 in 2021, +57%. It is worth noting that in 2021, Vietnam welcomed the birth of two new unicorns: Sky Mavis, estimated at almost 3 billion USD, and MoMo, at 2 billion.

Ms. Lin Hoang said Vietnam is moving in the direction of history by rapidly adopting new technologies and creating new flows for the economy. One of the emerging technologies recently is blockchain. The Vietnamese not only produce high-quality products, but also lead many new global trends in the field of GameFi and DeFi.

The Global Cryptocurrency Adoption Index (GCAI) 2022 report published by Chainalysis recently revealed that Vietnam topped the rankings for two consecutive years. But in order for new technologies such as Blockchain to continue to contribute more to the economy, Vietnam must adopt appropriate policies, learn from previous countries to create a sustainable ecosystem with great influence in the region, and continue strong globalization.

Jérôme Modolo, director of FPT Software France, said that Vietnam has many advantages in terms of human resources, infrastructure and high spirit of innovation. Vietnam has all the assets to become the new economy of the Asia-Pacific region.

Mr. Modolo also noted that the blockchain economy has a lot in common with the aviation industry of the 1960s. France is trying to repeat this success and Vietnam also has many necessary and sufficient capabilities and conditions.

On how to attract international investment sources, Ms. Gwendolyn Regina, Chief Investment Officer of BNB Chain, said that Vietnam should not worry about capital because it is already the world’s largest investment market to attract investment in the blockchain field. However, trends such as GameFi and DeFi may end, so Vietnamese startups should use Web 3 and Metaverse technologies to continue attracting more international investment funds./.-CPV/VNA

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