Currently, many countries around the world are in the process of researching, proposing policies and legal regulations to take advantage of this technology to develop their own social economic strategies. Vietnam is also a country with the potential to develop blockchain technology, but there are still many obstacles to this technology due to the lack of clear policies in virtual asset management, trading floor operation, capital mobilization or application in the field of payment and transaction.
On August 5th, the Foreign Affairs Committee in collaboration with the Vietnam Blockchain Association held a seminar on “International experience on development blockchain technology and recommendations for Vietnam” at the National Assembly Building, Hanoi. The purpose is to create an open policy to go along with the world as well as learning and enhancing the experience and standardize solutions for the development and application of blockchain technology (Blockchain), aiming to perfect the legal system, and build institutions and policies to create a legal corridor for technology-related activities.
This is an international conference to exchange, discuss and present theoretical-practical issues arising from the application of blockchain in specific fields in different countries. The main contents will revolve around the overview of digital economy development and Blockchain technology; issues, policy, and legal recommendations for Vietnam.
The conference acts as a forum to receive opinions, proposals, and legal frameworks for blockchain technology. It sets out tasks and solutions to promote blockchain technology and listens to sharing and management experiences from countries that have gone ahead on blockchain technology in the world.
Attending the seminar were representatives of the Embassies from the United States, Switzerland, Japan, Singapore, and Cambodia; representatives of ministries, agencies, experts, and researchers on blockchain technology at home and abroad.
Mr. Nguyen Manh Tien – Vice Chairman of the Foreign Affairs Committee of the National Assembly
At the opening of the workshop, Mr. Nguyen Manh Tien – Deputy Chairman of the Foreign Affairs Committee of the National Assembly said: “The Vietnamese Blockchain market is forecast to continue to be positive in the face of the explosive wave of global technology, increasingly favorable policies, and increasing interest from businesses. Many Vietnamese businesses with the acumen to grasp new trends have built their names in the field of providing blockchain application platforms. However, this “big playground” needs timely direction and guidance.”
In that context, the goal of the workshop is to contribute to improving the quality, the theoretical-practical value of building mechanisms, and policies related to blockchain. The countries need to agree on common standards and build a legal corridor toward digital transformation and a comprehensive digital economy to look to the future.
Speech on the application of blockchain in the digital economy by Mr. Phan Duc Trung
In the speech of Mr. Phan Duc Trung – Standing Vice President of Blockchain Association, Blockchain was only put into practice in 2009 to talk about the near-impossible future for many people. But the most important feature of blockchain is the characteristic of the future, namely the pillar technology of the future towards the future. “All blockchain systems will fail without seeing the future” he asserted.
At the seminar, representatives of the embassies of the United States, Japan, and Switzerland also shared about the management process of building a legal corridor and challenges when applying blockchain technology in practice. In particular, being a pioneer in applying for electronic money, representatives of the Japanese and Swiss embassies shared important principles to ensure control and parallel legal conditions.
The closing event will be a stepping stone for units from State management agencies and research economic organizations. From that the business sector will have more opportunities to sit together to jointly build solutions for future effective use to accelerate the process of accelerating the process of national digital transformation.