Chinh, Vice Chair of the National Cybersecurity Association, highlighted blockchain’s critical role in the digital era. He said that by 2030, blockchain is expected to become a key infrastructure for various business fields, including finance and banking, logistics, digital asset registration, healthcare, education, and public administration.

Humans are entering an era where data is not just a resource but a strategic asset. In this context, blockchain emerges as a technology to foster digital trust, a central element for operating a transparent, efficient, and sustainable digital economy.

Blockchain is not just a platform for cryptocurrencies but a strategic technology infrastructure, as outlined in Vietnam’s Politburo Resolution 57 and the PM’s Decision 1131 on June 12.

Nguyen Thanh Tuyen, Deputy Director of the IT Industry Department under the Ministry of Science and Technology (MST), said the practical applications of blockchain in Vietnam’s economy are growing rapidly.

In agriculture and export, blockchain enables product traceability, ensuring transparency in production processes—from Highland coffee to Mekong Delta shrimp— enhancing the value of Vietnamese agricultural products in international markets.

In finance and banking, blockchain reduces intermediary costs, speeds up transactions, and enhances security. In securities, it enables instant settlement (T+0), digital securities issuance, and improves supervision to prevent fraud.

In supply chains and logistics, blockchain supports transparent tracking from production to consumption, reducing time, costs and losses.

In public administration, it promotes integrity, transparency, limits fraud, and reduces intermediary procedures, forming the foundation for a modern, transparent digital government.

To realize the goal of making blockchain a pillar of the digital economy, Vietnam has issued the National Strategy for Blockchain Development to 2025, with a vision to 2030.

Risks

Tuyen said that the Digital Technology Industry Law, set to take effect in 2026, addresses digital assets, marking a significant legal step toward a regulated digital finance ecosystem.

However, blockchain’s rapid growth brings risks, such as attacks on smart contracts, digital wallets, and blockchain bridges; anonymous token-based money laundering; and disguised multi-level marketing schemes.

“Blockchain is a breakthrough technology, but without risk management and user safety, its breakthroughs can become vulnerabilities for high-tech crimes. Security is critical for blockchain to thrive,” Chinh warned.

He proposed three pillars for sustainable development: designing secure ecosystems from the start, enhancing early detection and response capabilities, and ensuring compliance with international legal standards.

He also called for close collaboration among the government, tech companies, expert communities, and cybersecurity forces to build digital trust.

$12 billion in digital assets stolen

According to Chainalysis, over the past five years, 657 attacks on blockchain platforms causing a loss of $12.8 billion have been reported.

The first six months of 2025 alone recorded $2.17 billion in damages, surpassing all of 2024. The attack on the Bybit exchange, resulting in a $1.5 billion loss, marked the largest shock in global blockchain history.

Nguyen Le Thanh, CTO of Verichains, reported that over the past five years, cyberattacks to blockchain ecosystems have surged, particularly targeting infrastructure components like digital wallets, blockchain bridges, and smart contracts. Many platforms have lost data and digital assets worth hundreds of millions of dollars in just hours.

“$2 billion was stolen in the first six months of 2025 alone, with personal wallets and blockchain bridges being the primary targets,” Thanh said.

Experts noted that many attacks involve projects and users from Vietnam, yet clear legal protections remain absent. This gap must be addressed if Vietnam aims to become an innovation hub for blockchain.

Vu Ngoc Son from the National Cybersecurity Association argued that security is not just a technical issue but a matter of risk management.

“The digital economy increasingly relies on blockchain for storing and transacting assets. Securing blockchain means safeguarding national digital assets. This requires a holistic strategy combining technology, legal frameworks, and public awareness,” Son said.

As blockchain permeates all aspects of digital life, security cannot be an afterthought but must be a foundational design element.

For Vietnam to move steadily in its digital transformation journey, close coordination among policy, technology and the community is essential. This is the prerequisite for building digital trust, the foundation for a safe, transparent and sustainable digital future.

Thai Khang