The launching ceremony of akaChain blockchain platform.

The akaChain, developed by Vietnam’s largest tech firm FPT Software corporation, supports enterprises in quickly building their business network systems and distributed applications using blockchain technology. It helps shortening the time spent on a number of tasks like electronic Know Your Customer (eKYC), credit scoring, customer loyalty programmes, and origin tracing.

In the coming time, it will be further developed for strengthened security and transparency.

At the event, Deputy Minister of Information and Communications Nguyen Thanh Hung said despite just being established in 2018, the platform has become popular.

He named a number of its successful users, including food group Masan Consumer, Baoviet Insurance, AIA Group, and VPBank.

The official took the occasion to call on digital firms to continue investing in the research and development of advanced technologies of the 4th Industrial Revolution, adding that it will help Vietnam catch up with latest developments in the world and complete its national digital transition.

The introduction of “Make in Vietnam” platforms is part of the national digital transition programme toward 2025 approved by the Prime Minister.

Calling Vietnamese enterprises to continue investing in research of technology 4.0  

Deputy Minister of Information & Communications at the launching ceremony of akaChain blockchain platform.

Invented in 2008, blockchain technology has been developed and improved to become one of the biggest breakthrough technologies with the potential to greatly affect every industry, occupation, everything from finance to production, business and even education, said Deputy Minister of Information and Communications Nguyen Thanh Hung.

Many countries are very interested in blockchain and issued related policies that create favourable environment to promote and develop this new technology. Many state agencies around the world have plans to invest in blockchain to manage financial transactions, assets, contracts, and institutional compliance in the coming years.

In Vietnam, early research and application of this technology will be an opportunity for Vietnam to actively keep pace with the development of the global economy, he said.

With the great potential of blockchain, he emphasized, it is likely that in the near future these technical applications will dramatically transform our lives. The Ministry of Information and Communications praised FPT for "advancing" into this new field, creating a blockchain technology platform to help Vietnamese businesses be ready to integrate with the development of the economy, finance and technology in the future.

“The Ministry of Information and Communications calls on digital technology businesses to continue investing in research of new technologies of the industrial revolution 4.0, so that Vietnam can keep up with the latest development trends of the world and complete the target of the national digital transformation plan,” said Deputy Minister Hung.

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