Blockchain Implementation Rising in Vietnam

Asia Blockchain Review
July 27, 2019

Companies in Vietnam are exploring the use of blockchain, the decentralized, transparent, and high-security technology expected to become an important driving force for businesses across various industries in the future.

Use Cases for Blockchain in Vietnam’s Agriculture

According to Vietnam Plus, blockchain technology has already been adopted among agriculturalists. The Mỹ Xương cooperative in Dong Thap province has reportedly been using distributed ledger technology to trace the origins of mangoes distributed through the cooperative. Suppliers and customers can easily scan a QR code that will lead them to a blockchain platform that gathers all information on the product.

Other industries are putting blockchain to use, as the technology can enable more transparency in storing information and benefit all stakeholders.

Blockchain Players Hold Their Breath on Vietnam Gov’t Regulation

In 2018, there had been several positive signs of development in Vietnam’s blockchain landscape, as well as the technology’s implementation across different industries. 

Vietnam’s Ministry of Science and Technology co-organized a blockchain forum that gathered government representatives, enterprises, and startups. The Ministry of Justice, meanwhile, hosted a conference on regulating digital assets and cryptocurrencies. 

The crypto community in Vietnam is growing rapidly, as a large talent pool of skilled developers has gathered to embark on new projects. Key players in the area of crypto exchanges include Bitcoin VN, Remitano, Quoine, and VBTC. 

All eyes are now on the Vietnamese government, as developers and entrepreneurs await the next announcement on blockchain regulations that will determine the direction of Vietnam’s tech industry. 


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