On June 6, the Vietnam Blockchain Association collaborated with Binance, the world’s largest cryptocurrency exchange, to accelerate the development of blockchain technology in the Asian country. The two parties will also link with other technology businesses throughout the world.
In recent years, the cryptocurrency sector has found a welcoming home in Vietnam, which placed top in digital asset adoption in 2020, according to a Chainalysis report.
Around the same time, Mr. Ngo Duc Thang – Director of the Government Cipher Committee – signed a directive focused on the development of the sector. He additionally guaranteed that blockchain innovation is among the vital elements of the Fourth Industrial Revolution.
Mr. Ngo Duc Thang stated:
“In the coming time, the government will continue to facilitate, encourage and promote early businesses to proactively accelerate the digital transformation process in which blockchain technology is the mainstay. It is expected that by 2030, blockchain will create 40 million jobs, 10% – 20% of the global economic infrastructure will run on Blockchain technology systems.”
According to a recent announcement, the government increased its efforts in the industry when the local decentralised application ecosystem – the Vietnam Blockchain Association – linked hands with Binance. Mr. Phan Duc Thung, the former’s Vice President, expressed hope that the partnership will build a bridge between crypto’s backbone technology and the local commercial industry and IT corporations:
“We believe that this is one of the proper steps, following the direction of the Vietnamese government towards a digital government, a digital economy, bringing sustainable growth values for a prosperous Vietnam.”
Furthermore, the collaboration would seek to attract foreign investors and international resources that may be invested in Vietnam’s rapidly rising economy. Personal training and education on the benefits of cryptocurrency will be another goal.
