Vietnam Landscape Report

April 5, 2019

Asia Blockchain Review (ABR) will launch the Vietnam Landscape report, capturing in-depth movements and insights in the blockchain and cryptocurrency industry in Vietnam.

Over the past year, there have been several positive signs of development in the Southeast Asian country’s adoption of blockchain technology, as well as its implementation across different sectors.

In July 2018, Vietnam’s Ministry of Science and Technology co-organized a blockchain forum that gathered government representatives, enterprises and blockchain startups. Minister Chu Ngọc Anh has also voiced his support for the development of blockchain-based applications through national science and technology programs.

Then, in September 2018, the Ministry of Justice hosted a conference on regulating digital assets and cryptocurrencies. There, the ministry stated its mission to study the roadmap of blockchain adoption in other nations, in order to propose solutions to the government.

Excerpt from upcoming Vietnam Blockchain Landscape Report issued by Asia Blockchain Review 

However, some worrying signs remain. The State Bank of Vietnam had announced in October 2017 that digital currencies are not permitted as a means of payment, later adding prohibitions to the issuance and supply of digital currencies. Similarly, Vietnam’s State Securities Commission banned companies from conducting issuance, trading and brokerage activities related to digital currencies.

Today, the crypto community in Vietnam is booming due to a large talent pool of skilled developers. Some prominent players in the area of crypto exchanges include Bitcoin VN, Remitano, Quoine, and VBTC. For blockchain R&D, the spotlight is on Infinity Blockchain Labs and Smartchain Labs, while TomoChain, Kyber Network, Kambria, and Etheremon are drawing interest in their blockchain-powered projects.

As the Vietnamese government is expected to announce regulations in the near future, all players in the industry, especially blockchain startups, are keen to enter the Vietnamese market.

This report is part of a series covering the latest blockchain developments in Southeast Asia. ABR is set to release full reports on Vietnam, Thailand, Malaysia, Indonesia, and the Philippines. For more details on the Landscape series, contact [email protected].

About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

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