20/10/2022
Blockchain technology has been known as the most common and often used keyword in the digital age. This technology is even regarded as one of the “key” technologies to accelerate the process of digital transformation and achieve the highest level of effectiveness.
Blockchain is a technology that encodes all data into blocks and chains, connecting them together. Iff there is new information or transactions, the previous information is not deleted but is instead added to the previous block to create a new chain. There is no way to modify data once it has been written to the blockchain system. This technology is being used in 65 different fields, most commonly in finance, insurance, government administration, infrastructure, real estate, transportation, and logistics as well as in healthcare and education. Because of the rapid development of new technologies and the internet, it is anticipated that the impact of blockchain technology will be stronger than that of the internet revolution three decades ago. According to the World Economic Forum (WEF), by 2025, 10% of the world's GDP may be kept on blockchain. Therefore, blockchain is now regarded as a “key” technology for digital transformation in the majority of corporations and businesses, particularly in the financial, banking, and securities sectors.
Blockchain is one of the digital technology fields in Vietnam's research and development priorities.
The blockchain market in Vietnam has made remarkable achievements, drawn lots of investors, and is a foundation for blockchain projects to keep growing. Particularly, according to Chainalysis, Vietnam has the highest blockchain application adoption index, which is five times higher than that of the US. Businesses in Vietnam are starting up rather quickly compared to the common ground, even creating new trends like blockchain games. At the moment, Vietnam is leading the market with more than 200 blockchain games. With significant advancements, it is expected that the blockchain industry would climb from $4.93 billion in 2021 to $227.99 billion by 2028, with an estimated annual growth rate of almost 72.9%. This figure demonstrates the high-speed development of blockchain and it is believed that this platform will be the “key” technology in the digital era.
Blockchain will be the primary technology used to address the problems associated with the digital transformation.
However, the state should establish a clear and efficient legal corridor for the Vietnamese blockchain sector to grow quickly. For organizations and businesses, it is necessary to make the appropriate human and financial investments to properly apply blockchain technology. With the goal of investing and accompanying intensive blockchain projects, FUNDGO will coordinate with other organizations to organize forums, workshops and seminars to share information and experience, to help businesses invest in researching and implementing blockchain technology applications in practice.
Blockchain technology will continue to create opportunities for enterprises to actively develop, apply technologies, boost competitiveness, make exceptional income and profit, as well as assure global integration. Since then, blockchain technology has evolved into the “key” technology that supports Vietnam's rapid and efficient digital transformation.
Category:
In the period 2024–2035, digitizing data related to assets, benefits and cash flows in a verifiable, automated and risk-controlled way is considered the direction many organizations in the world are researching. However, not all models “bring data […]
In the global capital market structure, the typical recurring cash flow asset group, bonds, is often considered the stable foundation of many portfolios. In Vietnam, after a period of rapid growth and then strong adjustment, the need for “transparency – standardization – number […]
Creative innovation is entering an era where the core value lies not only in the original work, but also in the exploitation rights that can be extended over time and space. From music, movies, fictional characters to images, designs, content […]
The F&B (Food & Beverage) industry in Vietnam is growing strongly, with an estimated scale of tens of billions of USD per year with a large number of stores, brands and franchise models. Along with the opportunities are familiar "bottlenecks": capital needs for expansion, operating costs […]
Among the forms of assets associated with the real economy, enterprises are the group with the potential to digitize economic benefits in a standardized, controlled and transparent way. Tokenization here is understood as the encoding of information and rules for distributing benefits related to activities […]
“Tokenize” in the international context is often understood as a way to standardize and digitize the economic benefits associated with an asset. This article shares perspectives on an effective tokenization model, which can bring many benefits if applied in the future: organizations […]
In the process of digitizing the supply chain, physical goods are being considered by many organizations as a suitable object to “Tokenize” (represent in the form of digital certificates). In Vietnam, the strengths in gold, coffee, pepper, cashew, seafood, rubber, etc. open up the possibility of research […]
Since 2025, many organizations in Vietnam have begun to pay more attention to digitizing data on real-world assets (often abbreviated as RWA). Similar to the way e-commerce or financial technology has created new standards for […]
In the next few years, the “digital representation” of real-world assets (often abbreviated as RWA – Real World Asset) will be mentioned as a direction for economic infrastructure development. Simply put, this is a way to use technology to standardize data on assets […]
Over the past two years, Vietnam’s legal and policy framework for blockchain and digital assets has made significant progress: from being virtually unregulated, it has now been officially mentioned in many documents. These orientations go hand in hand with […]