Blockchain technology promises to promote the wave of investment and innovation in Vietnam | Economy

Illustration photo: businessyield

Hanoi (VNA) – Blockchain technology can help Vietnam generate a wave of investment and innovation.

This was pointed out by some experts during the seminar “Using the power of Blockchain to promote the wave of investment and innovation in Vietnam”, organized recently by Binance at Station F in Paris, the largest incubator of startups in the world.

Ms. Lynn Hoang, Binance’s Southeast Asia Director, said digital transformation and the digital economy are among the Vietnamese government’s top priorities. From strategy to action, Vietnam shows its determination to grasp the general trend of the world.

“In 2021, Vietnam’s digital economy reached USD 21 billion, up 31% year-on-year, contributing more than 5% of the country’s GDP. It is expected to reach USD 57 billion in 2025, ranking second in Southeast Asia, a growth rate of around 29% per year,” Ms. Lynn Hoang said citing reports on Vietnam’s digital economy.

In venture capital, Vietnam also attracted record capital of USD 1.4 billion in 2021, up from USD 451 million in 2020. The total number of deals also increased significantly to 165. in 2021, +57%. Notably, in 2021, Vietnam welcomed the birth of two new unicorns: Sky Mavis with a valuation of almost 3 billion USD and MoMo, with 2 billion.

Ms. Lynn Hoang said Vietnam is moving in the direction of history by rapidly adopting new technologies and creating new flows for the economy. One of the emerging technologies lately is Blockchain. The Vietnamese not only produce high-quality products, but also lead many new global trends in the field of GameFi and DeFi.

The Global Cryptocurrency Acceptance Index (GCAI) 2022 report released by Chainalysis has just shown that Vietnam has topped the rankings for two consecutive years. But for new technologies like Blockchain to continue to contribute more to the economy, Vietnam must take appropriate policies, learn from previous countries to build a sustainable ecosystem with great influence in the region and continue to globalize strongly. .

Jérôme Modolo, director of FPT Software France, said that Vietnam has many assets in terms of human resources, infrastructure and a high spirit of innovation. Vietnam has all the assets to become the new economy of the Asia-Pacific region.

Mr. Modolo also pointed out that the Blockchain economy has a lot in common with the aviation industry of the 1960s. France is trying to replicate this success and Vietnam also has many necessary and sufficient opportunities and conditions.

On how to attract international investment sources, Ms. Gwendolyn Regina, Chief Investment Officer of BNB Chain, asserted that Vietnam need not worry about capital as it is already the world’s largest investment market. investment attraction in the field of Blockchain. However, trends like GameFi and DeFi may be over, so Vietnamese startups need to leverage Web 3 and Metaverse technologies to continue attracting more international investment funds./.-CPV/VNA

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