Digital Assets and Its Practical Benefits for the Digital Economy

Currently, digital asset has become a familiar concept and asset digitization is one of the prominent trends in the 4.0 technology era. Billions of dollars have been invested in digital assets, which makes the market have exploded over the years. Many companies in the world have changed their views, names or added business forms related to digital assets because they bring a lot of benefits compared to the traditional model. 

COVID-19 has significantly influenced the recent transfering in technological trends. In this context, digital transformation is a necessary solution to maintain and develop businesses. 56% of the CEOs of large companies agree that digital transformation increases revenue. In general, companies that successfully conduct digital transformation are 23% more profitable than those that apply traditional business models. Because of the sharp rise in users brought about by digital transformation, technological platforms and digital assets have become well-known quickly. In particular, digital assets are one of the key factors promoting a fast and effective digital transformation. Digital assets include digital currencies (also known as virtual currency, cryptocurrency, etc.), intangible assets (properties in games, intellectual property, videos, digital pictures, etc.) and digitized physical assets (pictures, financial assets such as real estate, securities, papers, degrees, equipment; tools such as phones, furniture, fashion goods, etc.). 

Digital assets have become an inevitable trend in the 4.0 technology era.

In the research on the topic "Digital Asset Transactions in the Digital Economy - Metaverse Economy", Mr. Luu Tuong Bach, Vice Chairman of Club of Economists, Chairman of the Board of Aptus Capital Startups Fund Management Corporation, Senior Advisor of FUNDGO Startup and Innovation Fund, pointed out the practical benefits of digital assets. First, thanks to smart contracts, digital assets always ensure transparency for users. Simultaneously, digital assets also function under rigorous guidelines and may be observed and verified by anybody with access to that blockchain. In addition to transparency, digital assets also provide reliability by ensuring the safety of all transactions because no one can unilaterally control or manipulate them. One of the most notable advantages of digital assets is innovation. Thanks to digitalization, users can expand their imaginations, create new opportunities and realize them in the best possible way. For example, digital assets allow us to develop applications that distribute rights, money, automatic dividends, cut intermediary cost, etc.

Digital assets and blockchain technology will continue to evolve in the digital era.

In the research, Mr. Luu Tuong Bach affirmed that users will feel secure when entering the digital asset market thanks to legal compliance and security. Digital assets use smart contracts, and these contracts are always correctly written and implemented, ensuring compliance with laws and other current regulations. Digital assets also save time from performing transactions to clearing and settlement or asset custody and management of other related rights. Digital assets also assist users in reducing some transaction costs. It is estimated that the cost can be reduced by 40-80% by cutting out the intermediary. Finally, because of the great advantages already mentioned, digital assets will contribute to the development of a better and more vibrant Metaverse community.

Digital assets have a wide range of applications in various fields.

Realizing the importance of the development of digital assets in the era of 4.0 technology, FUNDGO has been actively supporting and investing in numerous innovative projects both inside and beyond the Mekong Delta. The Fund has assisted companies in transforming from traditional to digital businesses, especially blockchain, contributing to promote a fast and sustainable digital economy. 

Because of the aforementioned advantages, digital assets have caught the attention of big enterprises and brands all around the world. It is believed that blockchain in general and digital assets in particular will continue to develop and integrate into company operations and achieve remarkable feats in the future.