Vietnam blockchain picture through Conviction 2025

The Conviction 2025 event, which took place on August 9-10 in Ho Chi Minh City, was one of the largest blockchain technology events ever held. With dozens of notable presentations on legal issues, resources, and technology, a positive outlook for the Vietnamese blockchain industry was outlined.

However, to achieve the results expected by the national strategy, domestic product makers need to overcome existing barriers.

Blockchain legal turning point

In a discussion on opportunities for the financial center of Ho Chi Minh City, Mr. Johan Nyvene, Chairman of Ho Chi Minh City Securities Corporation (HSC), recalled that in the past, crypto assets and digital currencies were considered very bad. Similarly, Mr. Thanh Hoa, Deputy Director of the Ho Chi Minh City Digital Transformation Center, commented that just two years ago, a conference like Conviction 2025, to discuss frameworks and regulations, was very unlikely.

The Deputy Director of the Ho Chi Minh City Digital Transformation Center also mentioned the lack of a clear regulatory framework affecting the development of blockchain in the country. Dr. Huy Pham, Lecturer at RMIT University Vietnam, gave the example of many domestic companies choosing to open headquarters in the UAE, just because this country has an open regulatory corridor. This is a form of "business bleeding".

Experts in the discussion on Ho Chi Minh City Financial Center.

“ The government gives us a bigger opportunity to create even bigger growth,” said Will Ross, Director of Marketing & Distribution, Dragon Capital, at Conviction 2025. He said the legal corridor gives digital assets a chance to grow.

Ms. Vy Le, co-founder of Do Ventures, shares the same view, saying that the newly applied regulations will help institutional investors feel more comfortable when making decisions to invest in potential blockchain platforms. In addition, the divestment mechanism can also be implemented more easily.

“This is an opportunity for the whole industry to grow sustainably,” said Ms. Vy.

Experts also said that investing in crypto assets is part of a global shift, with many large organizations choosing cryptocurrencies or stocks in this sector to diversify their portfolios. Timely policy changes give Vietnam the opportunity to become the center of global blockchain innovation.

When blockchain is friendly and easy to use

Besides the legal perspective, new products, applying AI to blockchain products were also announced by Vietnamese businesses at Conviction 2025.

Nguyen The Vinh, CEO and Co-founder of Ninety Eight, shares how the company integrates artificial intelligence into an existing product. He compares blockchain to the Internet of 40 years ago, powerful but difficult to apply to ordinary users.

Part of the solution is the AI chatbot Cypheus. Users can streamline operations, or get familiar with the tool, by giving commands to this artificial intelligence. In addition to guidance, Cypheus is empowered to handle tasks on its own. It also automatically analyzes to detect abnormalities, predict risks, and warn of threats to digital assets in the Coin98 wallet.

Ninety Eight's digital wallet-linked payment card solution. Photo: Ninety Eight.

In addition, Ninety Eight also announced a brand new hybrid card solution. The solution provides a two-way application, allowing blockchain users to use their digital assets for payments. And vice versa, new customers can get acquainted with cryptocurrencies using this tool.

In theory, the Coin98 Fusion Card is a physical product. Users can use it for contactless payments for transactions like Visa or Mastercard. However, instead of using available money (credit) or debit, Fusion Card will deduct money from the Coin98 cryptocurrency wallet. To do this, the Vietnamese company had to cooperate with Worldbank.

However, how the crypto assets are converted to fiat and the transaction steps have not been announced yet. Fusion Card is currently in the testing phase of Ninety Eight.

Within the framework of Conviction 2025, practical applications of blockchain are also clearly demonstrated. Ninety Eight provides NFT solutions for products such as unique wedding dresses of the brand Joli Poli or record recognition with the World Record Union.

This solution uses the superiority of storing information through a public and immutable ledger on the blockchain. Therefore, the copyright of physical and non-physical products is guaranteed. According to the national strategy for blockchain, the traceability system is one of the three main applications of this technology.

Source: https://znews.vn/buc-tranh-blockchain-viet-nam-qua-conviction-2025-post1576708.html