Promoting Innovation and Risk Management in Blockchain Applications

The conference was held as part of the International Innovation Exhibition (VIIE) 2023, organized by the Ministry of Planning and Investment at the National Innovation Center (NIC) in Hoa Lac, Hanoi.

Speaking at the opening of the Conference, Mr. Hoang Van Huay, Former Deputy Minister of Science and Technology and Chairman of the Vietnam Blockchain Association, shared: “Promoting blockchain application has been proven to be necessary and has indeed brought significant results in the process of Innovation and the 4th Industrial Revolution. In this process, blockchain training is considered a crucial key, contributing to a comprehensive change in perception, fostering Vietnam’s economic growth and rapid integration into the world. In addition, risk management should also be a priority for state agencies, businesses, and individuals to ensure the desired benefits of applying blockchain technology while avoiding investment and operational costs that are not worthwhile.”

At the conference, experts shared and discussed the role of Blockchain in the Innovation process, highlighting notable applications, activities of centralized and decentralized exchanges, and Regtech applications ensuring legal compliance for blockchain enterprises.

Regarding educational content, the necessity, training models, textbook quality, teaching methodologies, and the collaboration between educational institutions – training facilities – and businesses to ensure the quality of education leading to employment were focal points raised by speakers.

Notably, to drive the application process and training of blockchain, the Vietnam Blockchain Association signed a Memorandum of Understanding (MOU) with the Anti-Counterfeit Foundation (AFC), Institute of Information and Communications Technology – Academy Military Engineering, Hub Network, Medoo Online Learning Platform, VietCan StartUp Foundation, and Edutek Learning Platform.

The event was participated by representatives of various National Assembly agencies, the Government, the Institute of Legislative Studies, the Vietnam Union of UNESCO Associations, the Hanoi Youth Union, the Hanoi Association for Anti-Counterfeiting and Brand Protection, universities such as Foreign Trade Universities, Banks, Hanoi Polytechnic, Hanoi National University, prestigious educational units, technology, finance, legal enterprises, startups, investment funds, and both domestic and foreign individuals like AlphaTrue, AC Communications, Onyx, Spores Network,…

The Global Innovation Index (GII) is considered a set of tools to measure and evaluate the developmental capacity of economies. Many countries even view the GII as an important reference index for government management in science and technology, helping in the establishment and improvement of mechanisms and policies to promote socio-economic development.

According to the World Intellectual Property Organization (WIPO) Report on GII in 2023, Vietnam ranked 46th out of 132 countries, a 2-place increase from 2022. Vietnam is also evaluated as one of the seven middle-income countries that have made significant progress in innovation over the past decade.

To achieve these results, the Vietnamese Government has allocated significant resources to promote innovation through the development of modern technologies. Among these technologies, blockchain, alongside Artificial Intelligence (AI), Internet of Things (IoT), and Big Data, holds a top position in the priority list for research, development, and application, actively participating in the Fourth Industrial Revolution, as per Decision 2117/QD-TTg dated December 16, 2020, by the Prime Minister.