Asset Encryption: An Opportunity to Own Real Estate for Just a Few Million Vietnamese Dong

(Dan Tri Newspaper) - Vietnam is facing a historic opportunity to transition from a "physical Vietnam" to a "digital Vietnam".

At the VCG 2025 Forum held on the afternoon of December 10th, leading experts pointed out that digital assets are no longer just speculative bubbles, but powerful tools to "encrypt" real assets, unlocking capital currently idle in land and intellectual property.

At the same time, the question arises: How can Vietnam's tangible and intangible assets be transformed into working capital to serve economic development?

The paradox of capital flows and the solution from "Digital Vietnam"

Mr. Nguyen Duc Thuan, Chairman of the Vietnam Association of Corporate Administrators (VACD), affirmed: "Digital assets are no longer just a matter of speculative bubbles, but are now shaping up to become a core part of the global digital economy."

Mr. Nguyen Duc Thuan, Chairman of the Vietnam Association of Corporate Administrators (VACD), delivered the opening remarks at the forum (Photo: Organizing Committee).

However, to understand why Vietnam needs digital assets, we must look at the "pain points" of the current economy. Mr. Nguyen Phu Dung, co-founder of PILA Group, pointed out a thought-provoking paradox: Vietnam's capital turnover rate is only one-third that of Singapore.

"With the same capital, Singapore can turn it around three times while Vietnam can only turn it around once. The core reason lies in the fact that our capital is too heavily tied up in physical collateral, mainly real estate. The lack of confidence and legal barriers make accessing capital difficult, preventing a strong flow of money into production and business," Mr. Dung analyzed.

The solution to this problem lies in the shift from a "physical Vietnam" to a "digital Vietnam." In this model, trust is no longer based on emotional relationships between people, but on transparent data.

When data is validated on the blockchain, physical collateral may no longer be the only barrier. Banks and financial institutions can provide funding based on "digital trust" built on a transparent and immutable data history.

"Liquefying" billion-dollar assets

The most important highlight of the forum lies in the concept of Tokenized Real-world Assets (RWA) – tokenized real-world assets. This is seen as a "magic wand" to awaken dormant resources.

Mr. Le Thanh, co-founder of Ninety Eight, painted a promising picture of this application. According to him, real-world assets (real estate, bonds) brought onto the Blockchain will open up opportunities to access global capital flows.

Previously, it was almost an "impossible task" for an individual investor in the US or Singapore to invest in Vietnamese real estate due to geographical and legal barriers. But with tokenization, assets are fragmented and traded digitally, allowing international capital to flow in more easily.

In particular, Mr. Thanh emphasized the profound social significance of this technology for the younger generation: "My generation and my younger siblings all aspire to own a home, but real estate prices are currently too high. Tokenization solves this problem by allowing ownership in portions."

Instead of having to save up for decades to buy an entire apartment, young people can purchase 10% or 20% of the property's value through tokens. This is a way to "democratize" investment opportunities, allowing ordinary people to participate in markets previously reserved only for "sharks."

According to a VACD survey, 90% of entrepreneurs and businesses are interested in digital assets and crypto assets (Photo: Organizing Committee).

Not stopping at material assets, Mr. Nguyen Phu Dung also broadened his vision to include intangible assets – Vietnam's unique strengths. "Ha Long Bay, Phu Quoc Island, or traditional national dishes... If Vietnam doesn't leverage these strengths to maximize its potential, it will be very difficult to catch up with the world ," Mr. Dung emphasized.

Sharing the same viewpoint, Mr. Nguyen The Vinh, co-founder of Ninety Eight, added about another "blue ocean": intellectual property and patents. Songs by Vietnamese artists that achieve billions of views, or technological inventions that typically take 3-5 years to register and are difficult to value, can now be tokenized to raise capital directly from the fan community and investors, creating a vibrant trading market for intangible assets.

"Early IPO" and the Sandbox Mechanism: The Runway is Open

From the perspective of a financial institution, Mr. Nguyen Trung Trang, Product Director of SSI Digital, offered an interesting comparison: Tokenizing assets is essentially a form of "early IPO".

According to Mr. Trang, businesses with real operations, real profits, and real cash flow can issue tokens based on their enterprise value (similar to stocks) to raise international capital without waiting for the complicated traditional IPO procedures.

Speakers participating in the discussion session: Shaping the digital asset ecosystem (Photo: Organizing Committee).

"A company with total assets of 1 trillion VND can issue 1 trillion VND worth of tokens to sell to foreign investors," Mr. Trang explained, giving an example.

However, opportunities always come with challenges. Ms. Le Vu Huong Quynh, Director of Asia- Pacific Development at Tether, shared that creating tokens is now very easy, taking only 5-10 minutes on platforms like Tether's Hadron.

But the biggest challenge lies in finding investors and building a distribution channel.

To solve this problem, the role of legal frameworks and testing mechanisms (Sandboxes) is crucial. Mr. Tran Anh Tuan, Director of the Hanoi Department of Science and Technology, brought good news by confirming that Hanoi has passed a resolution on Sandboxes and is ready to "light the torch" to find the chief architect for digital data and assets.

Hanoi is committed to supporting businesses and sharing the risks to bring new economic models to life.

Source: https://dantri.com.vn/cong-nghe/ma-hoa-tai-san-co-hoi-so-huu-bat-dong-san-chi-voi-vai-trieu-dong-20251211125818886.htm