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Vietnam finding ways to change prejudices on blockchain technology

Due to various misunderstandings about the blockchain technology in Vietnam, it cannot enjoy sufficient investment and development boosts.

Vietnam finding ways to change prejudices on blockchain technology ảnh 1 The event Blockchain Global day 2022, held in HCMC, is expected to introduce useful blockchain applications for daily operations. (Photo: SGGP)

Luckily, there have been many conferences on this topic lately to correct the prejudices and promote the appropriate uses of the technology in manufacturing, management, and especially in smart city establishment.

“Many blockchain application developers find it frustrated when the Vietnamese community usually link this technology to games or cryptocurrency only, which has left a rather negative impression. This has become the main obstacle to the growth of blockchain in the country. Not many people can recognize its usefulness in commerce or administration” said CEO Huynh Kim Tuoc of Saigon Innovation Hub (SIHUB, member of the HCMC Department of Science and Technology).

At Blockchain Global Day 2022 held recently in Vietnam, hundreds of blockchain businesses have proved the practicability of the technology in various fields, ranging from healthcare, energy, transportation, and manufacturing. It is expected that from 2023-2027, the blockchain market in the country will witness a considerable rise when people understanding it more and proper resources are successfully mobilized.

In particular, as to waste management in large cities, blockchain can help maintain a clean environment via the monitoring of waste collection and recycling in real time. Regarding public services, the technology aids to reduce unnecessary steps in administrative procedures because it offers transparent and safe database systems. With respect to healthcare, blockchain is used to store medical records of patients, to track disease sources, to solve identity problems in the management of the retired, social security, and expenses of the poor.

Therefore, in the conference ‘Blockchain Contributions to Establishing a Smart City’, held by the Center for Statistics and Science and Technology Information of HCMC (CESTI, member of the HCMC Department of Science and Technology), Standing Vice Chairman of Vietnam Blockchain Association Phan Duc Trung stressed that the implementation of this technology in smart city building should focus on improving the performance of daily operations.

Acting Director of CESTI Nguyen Duc Tuan said that blockchain has taken part in the construction of a smart city via the three pillars of digital government, economy, and society. Hence, it is necessary to concentrate on developing blockchain applications for these three pillars.

At present, there are many blockchain experts and scientists in Vietnam who are researching for its uses in smart city establishment. The most noticeable of them are Dr. Le Lam Son from Ho Chi Minh City University of Technology (Vietnam National University-HCMC) with his study on a flexible lookup mechanism based on data mining and blockchain technology for level-agreed services in the application ecosystem for a smart city; Dr. Dang Minh Tuan from CMC Technology Institute with his study on using blockchain in managing qualifications; Vietnam Blockchain JSC. with its application for value chain and number identity management for product traceability.

Source: SGGP


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