Blockchain opens up new opportunities for Vietnam's digital economy

(NLDO) - Mr. Pham Dai Duong, Deputy Head of the Central Policy and Strategy Committee, affirmed that blockchain opens up opportunities to bring Vietnam into the leading group of digital technology.

On August 29th, the Vietnam Blockchain Festival 2025 officially opened at the Da Nang City Administrative Center. The event was co-chaired by the Da Nang City People's Committee and the Central Policy and Strategy Committee, in collaboration with the Vietnam Blockchain and Digital Assets Association.

In his opening remarks, Mr. Pham Dai Duong, Deputy Head of the Central Policy and Strategy Committee, stated that Vietnam has issued a National Strategy on the Application and Development of Blockchain Technology until 2030 and identified it as one of the 11 strategic technology areas that need to be prioritized.

Vietnam has the advantage of a young, dynamic workforce, along with a rapidly developing digital market, creating favorable conditions for breakthroughs and asserting its position in this field.

Mr. Pham Dai Duong, Deputy Head of the Central Committee's Policy and Strategy Department, spoke at the Vietnam Blockchain Day 2025.

Mr. Pham Dai Duong affirmed that the potential application of blockchain in fields such as digital assets, financial technology, traceability, and digital data management will open up new development opportunities for the digital technology industry, placing Vietnam among the leading countries in the region and the world.

Vietnam Blockchain Festival 2025 takes place in Da Nang.

According to Mr. Pham Dai Duong, Da Nang City has identified science, technology, and innovation as core drivers for rapid and sustainable growth, implementing many synchronized mechanisms and policies to develop the startup ecosystem.

The city's efforts to establish an International Financial Center and Free Trade Zone will create a favorable environment to attract legal services, fintech, and venture capital, contributing to the stronger development of the blockchain ecosystem and innovative startups.

The Vietnam Blockchain Festival 2025 is one of the three key activities of the Da Nang Finance and Technology Week 2025, taking place from August 28th to 30th. The festival aims to showcase the potential for blockchain technology development in Da Nang, while also creating a forum for networking and collaboration among businesses, investors, and experts from both within and outside the country.

This year's event is expected to bring together more than 400 delegates from both domestic and international locations, participating in both in person and online.

Previously, on August 26th, the Da Nang City People's Committee approved a controlled trial of "Basal Pay Software" – a blockchain-based solution for exchanging crypto assets with fiat currency, the first in Vietnam to integrate the Travel Rule standard in accordance with international regulations on anti-money laundering and terrorist financing.

Blockchain is a distributed ledger technology that stores data in linked blocks using encryption and shares them across multiple computers in a peer-to-peer network. This makes data transparent and difficult to alter, helping to build digital trust.

Blockchain enables fast, secure transaction verification without the need for intermediaries, while also supporting the deployment of smart contracts and decentralized applications.

This technology is being widely applied in finance, supply chains, healthcare, education, and digital data management.

Source: https://nld.com.vn/blockchain-dong-luc-moi-cho-kinh-te-so-viet-nam-196250829141706014.htm