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

In his opening speech, Mr. Pham Dai Duong, Deputy Head of the Central Policy and Strategy Committee, said that Vietnam has issued a National Strategy on the application and development of blockchain technology until 2030 and identified this as one of 11 strategic technology areas that need priority.

Vietnam has the advantage of a young, dynamic workforce and a rapidly growing digital market, creating conditions for breakthroughs and affirming its position in this field.

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

Mr. Pham Dai Duong affirmed that the potential of blockchain applications in fields such as digital assets, financial technology, traceability, digital data management, etc. will open up new development space for the digital technology industry, bringing Vietnam into the leading group in the region and the world.

Vietnam Blockchain Day 2025 takes place in Da Nang

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

The city is promoting the establishment of an International Financial Center and a Free Trade Zone, which will create a favorable environment to attract legal services, financial technology, and venture capital, contributing to promoting the stronger development of the blockchain ecosystem and innovative startups.

Vietnam Blockchain Festival 2025 is one of the three key activities of the Da Nang Finance and Technology Week 2025, taking place from August 28 to 30. The festival aims to introduce the potential for blockchain technology development in Da Nang, while creating a forum for connection and cooperation between domestic and foreign businesses, investors, and experts.

This year's event is expected to gather more than 400 domestic and foreign delegates to attend in person and online.

Previously, on August 26, the People's Committee of Da Nang City approved a controlled trial of "Basal Pay Software" - a blockchain application solution in exchanging crypto assets with fiat money, for the first time in Vietnam integrating the Travel Rule standard according to international regulations on anti-money laundering and terrorism financing.

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

Blockchain enables fast, secure transaction authentication without the need for intermediaries, and supports the deployment of smart contracts and decentralized applications.

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

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