On the occasion of the 1st anniversary of its establishment, the Vietnam Blockchain Association has announced 4 key programs for 2023, in which, the development of Vietnam Blockchain Association Standards for the blockchain industry, the Chaintracer Anti-fraud project and The SwitchUp business support program is particularly focused.
These programs are in the direction of building Vietnam Blockchain Association Standards, enhancing Regtech Applications and Supporting Fundraising in 2023. Mr. Phan Duc Trung – Standing Vice Chairman of Vietnam Blockchain Association shared. : “4 action programs in 2023 including Vietnam Blockchain Association Standards, Regtech Application, Fundraising Support and Textbook. These programs will concretize the 6 initial goals set by the Vietnam Blockchain Association.”
Mr. Phan Duc Trung – Permanent Vice President of Blockchain Association announced the orientation of 2023
According to Trung, the Vietnam Blockchain Association Standards will include: Blockchain project evaluation standards, Community standards and Digital asset safety standards. The Vietnam Blockchain Association has completed the community consultation and officially announced the Blockchain Project Evaluation Standard at this event. The standards program is based on community input, including international partners and alliances. The mission of the Vietnam Blockchain Association is to provide a free standard for the community to share with regulatory agencies and educational units for inclusion in research documents, reference, implementation of training activities, Finally, a combination of Regtech tools to support effective standards implementation.
Strengthening Regtech Application Through Chaintracer Project
Mr. Phan Duc Trung defines Regtech (Regulation technology) as technologies applied to assist businesses in legal compliance. He said: “We hope that the RegTech application will achieve two standards, the first is to satisfy the international application standard, the second is to integrate into the global database environment, especially eKYC (receive know e-customers”.
Vietnam Blockchain Association initially joined Regtech Application through the Chaintracer project. Mr. Hieu Ngo – member of Information Security Department of Vietnam Blockchain Association is the leader of this project. This is a blockchain transaction tracing project to promote AML/CFT (anti-money laundering/anti-terrorist financing) activities.
With long experience in the security industry and was on the list of security experts who contributed to the company in May 2022, Mr. Hieu Ngo understands the risks of the Web3 market. In 2022 alone, he said more than $3 billion was lost to fraud in the industry, according to Immunefi.
Mr. Hieu Ngo (Hieu PC), member of Information Security Committee of Vietnam Blockchain Association introduced the Chaintracer platform
According to him, common forms of scams are rug pull (developer withdraws money from the project), publicizing fake ICO/IDO/IEO (issuing shares in the form of tokens), or using malicious code to attack the victim. As a result, Chaintracer will identify and warn users about such attacks. The Chaintracer platform is committed to investor protection by reviewing on-chain transaction activity and referencing them to known scam models to assess whether a project is a scam. This platform will also analyze market behavior to identify inflation, provide analysis of ICO, IDO, IEO projects for investors to rely on to determine if the project is fraudulent or not.
Promote blockchain application business support
Supporting businesses is also an orientation that Vietnam Blockchain Association is interested in in 2023. At the event, Vietnam Blockchain Association announced the startup accelerator program “SwitchUp” focusing on supporting the development of Blockchain/Web3 projects.
Mr. Eric Hung Nguyen – a member of the Investment Promotion Board of Vietnam Blockchain Association is the announcer of the SwitchUp program. This is the leading enterprise support platform for blockchain projects, supporting projects from fundraising, product development and completion to community building.
Ông Eric Hưng Nguyễn – thành viên của Ban Xúc tiến Đầu tư Hiệp hội Blockchain Việt Nam công bố về chương trình SwitchUp
Specifically, projects will be closely followed by advice from leading advisors and experts to promote strengths and overcome weaknesses, have direct contact with VC funds and Angel investors invited to attend and Communication and marketing support. The project leader will be trained in fundraising presentations, technology consulting, marketing strategy development, and finally corporate governance and legal advice.
Integrating into the common vision of the Vietnam Blockchain Association, the SwitchUp program will coordinate with the National University to promote entrepreneurship in the University environment, associate with international universities to conduct student exchange support in training, provide documents during the fundraising process.
Mr. Tran Van Tung – Deputy Minister of Science and Technology said: “When the concept of “virtual currency” became popular, many individuals, organizations and businesses were deceived, so the project Mr. can solve this problem. I also strongly agree with the contents of the Vietnam Blockchain Association in 2023, as well as the 6 goals in 2022. These are really remarkable results of the Vietnam Blockchain Association. In Vietnam, to do digital transformation, blockchain technology plays a very important role. I am very interested in the business support program of the Vietnam Blockchain Association presented by Mr. Hung, this program can accompany the annual National Startup Day.”
Also on the 1 year anniversary, the Vietnam Blockchain Association and the Hong Kong Blockchain Development Association and the National University performed the signing ceremony of a strategic cooperation, with the expectation that this cooperation will promote the cooperation between the two countries. connecting and strengthening cooperation relations while contributing to promoting the process of digital economy and national digital transformation. At the same time, the parties will consult together to complete the legal policy framework for the technology sector in Vietnam; expanding relationships with blockchain technology organizations and communities around the world; sharing experiences and resources to research and develop human resources for the digital economy.
May 17, 2023 marks the one-year anniversary of the Vietnam Blockchain Association. After 1 year of establishment and development, Vietnam Blockchain Association has gradually affirmed its position as a connecting organization sharing values through a series of community events and domestic and international cooperation, besides promoting standards-setting and data security. The event welcomed 300 VIP guests who are senior leaders of the Government, Ministries, Boards of Directors of companies, Investment Funds, Community KOLs, Blockchain Application Enterprises.