Promoting innovation and risk management in blockchain applications

On the morning of October 30, the Vietnam Blockchain Association (VBA) organized a workshop on "Promoting innovation and risk management in blockchain applications" to promote the blockchain application process and promote blockchain education in universities and educational institutions.

The workshop was held within the framework of the International Innovation Exhibition (VIIE) 2023 hosted by the Ministry of Planning and Investment at the National Innovation Center (NIC) Hoa Lac, Hanoi.

Speaking at the opening of the workshop, Mr. Hoang Van Huay, former Deputy Minister of Science and Technology, Chairman of the Vietnam Blockchain Association emphasized: “Promoting blockchain application has been proven to be a necessary thing to do and has really brought about significant results in the innovation process and the 4th Industrial Revolution. In this process, blockchain training is considered an important key, contributing to changing comprehensive awareness, helping the Vietnamese economy grow and integrate rapidly with the world. In addition, risk management also needs to be taken seriously by state agencies, businesses and individuals, to ensure that the application of blockchain technology achieves the desired benefits, avoiding unnecessary risks of investment and operating costs.”

At the workshop, experts shared and discussed in depth the role of blockchain in the innovation process and outstanding applications, operations of centralized and decentralized exchanges and regtech applications to ensure legal compliance of blockchain businesses.

Regarding the content of education, the necessity, training model, quality of curriculum, teaching and the connection between schools - training facilities - and businesses to ensure quality from training to employment after training for students are the issues raised by the speakers.

In particular, to promote the application and training of blockchain, the Vietnam Blockchain Association has signed a Memorandum of Understanding (MOU) with the Anti-Counterfeiting Fund (AFC), the Institute of Information and Communications Technology - Military Technical Academy, Hub Network, Medoo Online Learning Platform, VietCan StartUp Fund, U2U Foundation and Edutek Learning Platform.

The program was attended by representatives of many agencies of the National Assembly, the Government, the Institute for Legislative Studies, the Vietnam Union of UNESCO Associations, the Hanoi Youth Union, the Hanoi Association for Anti-Counterfeiting and Brand Protection, the Foreign Trade University, the Banking University, the Hanoi University of Science and Technology, the Hanoi National University, prestigious educational institutions, technology - finance - legal enterprises, startups, investment funds, domestic and foreign individuals such as AlphaTrue, AC communications, Onyx, Spores Network...

Also within the framework of the program, the speakers discussed and exchanged about blockchain human resource training as well as blockchain application in traceability: NTC, NFT and NFCT... Thereby, the speakers and experts shared the overall picture, the role and importance of education and training in promoting the application of blockchain technology; ways to ensure training quality as well as closely follow the needs of the labor market, helping students and trainees to be trained systematically, but closely following reality and accessing the desired job opportunities while improving the effectiveness of blockchain application in traceability, increasing product value, especially typical Vietnamese products...

The Global Innovation Index (GII) is considered a tool to measure and evaluate the development capacity of economies. Many countries even consider the GII as an important reference index for state management of science and technology, building and perfecting mechanisms and policies to promote socio-economic development. According to the World Intellectual Property Organization (WIPO) Report on GII in 2023, Vietnam ranked 46/132 countries, up 2 places compared to 2022. Vietnam is also considered one of the 7 middle-income countries that have made the most progress in innovation over the past decade. To achieve that result, the Vietnamese Government has devoted a lot of resources to promoting innovation through the development of modern technologies. In particular, blockchain, along with Artificial Intelligence (AI), Internet of Things (IoT), Big Data, hold the top position in the list of priorities for research, development and application to proactively participate in the 4th Industrial Revolution according to Decision 2117/QD-TTg dated December 16, 2020 of the Prime Minister.

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