On October 23, Vietnam marked a significant milestone with the release of its National Blockchain Strategy, led by the Ministry of Information and Communications (MIC). This bold initiative aims to catapult the country into the forefront of the blockchain revolution, also known as the Fourth Industrial Revolution.

The comprehensive strategy sets out five core objectives that will shape Vietnam’s future in blockchain, focusing on creating a robust legal framework, expanding blockchain infrastructure, and fostering a culture of innovation. These objectives will be overseen by key government agencies such as the MIC and the Vietnam Blockchain Association.

The plan is built around five pivotal actions:

Developing a supportive legal environment for blockchain technology.

Establishing a comprehensive blockchain infrastructure and ecosystem.

Building human capital in the blockchain sector.

Promoting blockchain applications and development.

Encouraging research, innovation, and international cooperation.

A central focus of the strategy is the development of Vietnam’s blockchain ecosystem, with plans to create 20 national blockchain brands for platforms, products, and services. Additionally, the government aims to establish at least three blockchain testing centers in major cities to foster innovation and strengthen the national blockchain network.

A significant highlight of the strategy is Vietnam’s commitment to providing legal recognition to digital assets. By aligning with international standards, Vietnam intends to regulate digital assets and ensure they are protected under civil law. The government’s move is also seen as part of its broader strategy to prevent money laundering, terrorist financing, and the proliferation of weapons of mass destruction.

Through these measures, Vietnam is setting the stage to become a regional leader in blockchain technology, with an eye on innovation, security, and international collaboration. The National Blockchain Strategy represents a bold vision for a digitally empowered future.