National Blockchain Strategy Officially Issued

(CPV) - On October 22, the Government issued Decision No. 1236/QD-TTg announcing the National Strategy on the Application and Development of Blockchain Technology until 2025, with a vision to 2030.

In the National Strategy on Application and Development of Blockchain Technology to 2025, with a vision to 2030 (National Blockchain Strategy), recently signed and promulgated by Deputy Prime Minister Ho Duc Phoc, blockchain is defined as one of the leading technological trends of the Fourth Industrial Revolution. The application and development of blockchain technology plays a crucial role in building advanced digital infrastructure, ensuring data reliability and security, and contributing to the development of the digital technology industry.

The National Strategy on Application and Development of Blockchain Technology until 2025, with a vision to 2030, was signed and promulgated on October 22, 2024 (Screenshot).

Vietnam will lead the region in the blockchain industry by 2030.

According to the Strategy, with a vision to 2030, Vietnam aims to become a leading country in the region and have an international position in the research, deployment, application, and exploitation of Blockchain technology. Specifically, the Government aims to build 20 reputable blockchain brands in the region in terms of platforms, products, and services based on blockchain technology; maintain the operation of at least 3 blockchain testing centers or special zones in major cities to form a national network; and have representatives in the ranking of the top 10 blockchain training and research institutions in Asia.

To achieve this goal, in the Action Program for the period 2024-2030, issued with Decision 1236/QD-TTg, the Government has set out 5 specific actions, including: (1) Completing the legal environment; (2) Developing infrastructure and forming a blockchain industry ecosystem; (3) Developing human resources for the Blockchain field; (4) Promoting the development and application of Blockchain; (5) Promoting research, innovation and international cooperation. Each activity is specifically assigned to ministries and agencies such as the Ministry of Information and Communications , the Government Cipher Committee, the Ministry of Education and Training, the Ministry of Science and Technology, etc., to lead and be responsible for.

Deputy Prime Minister Ho Duc Phoc signed and promulgated the National Blockchain Strategy on October 22, 2024. (Photo: chinhphu.vn)

Vietnam Blockchain Association: Promoting the Make in Vietnam Blockchain Brand

Notably, besides Ministries and Departments, the Vietnam Blockchain Association, along with professional associations, are assigned to preside over: (1) Developing Make in Vietnam Blockchain platforms. Building operating, exploitation and interaction mechanisms, and interconnection between different types of blockchain networks operating on the Vietnam Blockchain Infrastructure. (2) Gathering Vietnamese digital technology enterprises to build blockchain platforms, promote information sharing, and enhance internal competitiveness with foreign enterprises.

Sharing his views on the legal document that will guide the development of Vietnam's blockchain market, Mr. Phan Duc Trung, Permanent Vice President of the Vietnam Blockchain Association, said, "The National Blockchain Strategy recently issued by the Prime Minister is a significant milestone in the blockchain field, demonstrating the commitment and concrete actions of the Government, the decisiveness of the drafting unit, the Ministry of Information and Communications, as well as the efforts of the community in promoting a transparent, secure, and sustainable digital economy."

Regarding VBA's assignment to the National Blockchain Strategy, Mr. Trung shared, “This is an honor, recognizing VBA's contributions to management agencies in gathering opinions and contributions from the community. Simultaneously with the National Blockchain Strategy, VBA is aware of its responsibility to this very young but promising industry. We are committed to actively and proactively carrying out the assigned tasks to promote community development towards research, practical application, and maximizing the benefits of blockchain technology as outlined in the national strategy. We also believe that the comprehensive popularization of blockchain technology, reaching the entire population as targeted by the Strategy, will bring clear benefits to the digital economy that the Government has envisioned,” Mr. Phan Duc Trung emphasized.

To date, the National Blockchain Strategy is the highest-ranking legal document, reflecting the government's goals and determination to promote the application of blockchain technology, leveraging the advantages of this advanced technology to facilitate the realization of the goals set for the digital economy and digital society.

Mr. Phan Duc Trung, representing the VBA, participated in a consultation session with the National Assembly's Committee on Science, Technology and Environment regarding regulations on digital assets in the draft Digital Technology Industry Law (Photo: PV).

Previously, on October 8, 2024, the Standing Committee of the National Assembly gave its opinion on the draft Law on Digital Technology Industry submitted by the Minister of Information and Communications. This is the first time that digital assets have been officially included in a legal document with specific regulations as intangible assets, protected by law as property rights in accordance with civil law, intellectual property law, and other relevant laws.

The legal definition of Digital Assets is one of the actions taken to realize the Vietnamese Government's commitment to preventing and combating money laundering, terrorist financing, and the financing of the proliferation of weapons of mass destruction, with the goal of removing Vietnam from the Financial Action Task Force's (FATF) gray list before May 2025. These commitments are reflected in the National Action Plan, issued under Decision No. 194/QD-TTg dated February 23, 2024, by the Prime Minister.

Since Vietnam was placed on the FATF's grey list in June 2023, the Vietnam Blockchain Association (VBA) has made significant and positive contributions through various specific activities, such as a series of seven workshops to contribute to the development of a legal framework for virtual assets; and dozens of direct or indirect written submissions to agencies responsible for drafting, reviewing, and commenting on these legal regulations, such as the National Assembly's Committee on Science, Technology and Environment, the Ministry of Information and Communications, and the Government, aiming to contribute to building a legal framework for digital assets that is suitable to Vietnam's practical situation and consistent with international practices.

Source: https://dangcongsan.vn/kinh-te/chinh-thuc-ban-hanh-chien-luoc-blockchain-quoc-gia-681306.html