Blockchain Technology Promises To Drive The Wave Of Investment And Innovation In Vietnam | Economy

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

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

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

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

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

Ms. Lynn Hoang said that 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 2022 Global Cryptocurrency Acceptance Index (GCAI) report released by Chainalysis just showed that Vietnam tops the chart for two consecutive years. But in order for new technologies such as Blockchain to continue to contribute more to the economy, Vietnam must adopt 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 advantages in terms of human resources, infrastructure and a high spirit of innovation. Vietnam has all the resources 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, Gwendolyn Regina, Chief Investment Officer of BNB Chain, said that Vietnam does not have to worry about capital as it is already the largest investment market in the world and an attraction for investments in the field of Blockchain. . However, trends like GameFi and DeFi may be outdated, so Vietnamese startups need to leverage Web 3 and Metaverse technologies to continue attracting more international investment funds ./.-CPV/VNA

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