Experts to discuss future of blockchain technology in Vietnam

Scores of Vietnamese and foreign experts will gather in Hanoi on June 14 for a conference on ways to promote the development of blockchain technology in Vietnam.

The "Blockchain Forum 2018: Vision and Development Trend" is being billed as a dialogue between blockchain enterprises and management agencies, seeking solutions to blockchain technology development in Vietnam.

The conference is being organized by VnExpress, Vietnam’s most-read news website, in conjunction with the Ministry of Science and Technology. It is supported by Infinity Blockchain Labs and other blockchain platform developers Achain and Tomochain.

The world over, blockchain technology has become one of the most searched keywords in recent years, expanding its applications from digital finance to various fields including agriculture, healthcare and logistics. It is the world’s leading software platform for digital assets and touted to be a tool to build a radically better financial system.

Wikipedia defines the blockchain as "a decentralized, distributed and public digital ledger that is used to record transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the collusion of the network."

The governments of some countries like Singapore, Malta and Dubai have adopted the blockchain technology and developed legal frameworks for its growth.

The conference will have three sessions on different aspects of blockchain development that are expected to identify opportunities and challenges for developing the technology in Vietnam; and come up with policy recommendations with a vision towards 2025.

According to Forbes, Vietnam could soon emerge as one of the new blockchain innovation hubs in Southeast Asia and across the world, which would help attract technology investors and foreign partners thanks to huge cryptocurrency transactions and dynamic blockchain development staff.

There should be feasible solutions and favorable legal frameworks to encourage the development of the technology and prevent risks, experts have said. In Vietnam, several fields carry high potential for application of the blockchain technology, including finance, investment, medical records management and food traceability.

More information about the Blockchain Forum 2018 can be found at https://blockchain.vnexpress.net/.