DTS Digital Transformation Alliance launches the Blockchain Chapter – BAS with the goal of cooperation and alliance of resources to support the sustainable development of Vietnam’s blockchain.
Blockchain creates positive changes for the current economic development and social life. This technology is being widely deployed in many countries around the world, demonstrating great development potential for businesses in the industrial revolution 4.0.
Potential and challenges of Vietnam Blockchain Market
Blockchain is increasingly attracting the attention of the community in Vietnam. Although there is no legal corridor on the implementation of cryptocurrency transactions, the Government has assigned the State Bank to research, build and pilot the use of virtual currencies based on blockchain technology. This is considered a signal to create new opportunities for Vietnamese businesses in the coming time..
In general, the world blockchain market opportunity in general and Vietnam in particular is expanding, especially in Vietnam. However, many experts believe that the general public’s awareness of this field is not enough, does not understand the nature of technology application, and is following short-term trends in cryptocurrencies and financial games. … This is a common challenge of the market but also an opportunity for businesses that want to invest in developing methodically and lead the Vietnamese blockchain technology market.
Blockchain technology creates many opportunities for businesses.
Faced with opportunities, many traditional businesses and startups in Vietnam have begun to make positive action. However, the challenge is that with a new technology, the legal corridor is not clear and there are many risks. Most large technology enterprises are still quite cautious in deploying.
Vietnam’s blockchain market is a playground for startups and single activity. Blockchain technology can be taken advantage of, causing fraudulent behavior, causing this technology to be labeled by the majority of people as electricity money, multi-level finance… That perception has created a barrier to the development of methodical blockchain startups in particular and the healthy development of the Vietnamese blockchain market in general.
Moreover, the challenge of the majority of blockchain startups in Vietnam is the lack of legal and communication support, the lack of a mechanism to share project development experience. Therefore, making it difficult to mobilize resources to survive and sustainable development. Meanwhile, the activities of organizations, associations and industry alliances in legal support, communication, training, cooperation promotion, resource attraction… are not effective, according to DTS.
Therefore, the Vietnamese blockchain market needs a mechanism of cooperation and alliance to link resources from organizations and individuals in the technology field in general and blockchain in particular, in order to promote healthy and sustainable development of this potential market.
The Role of Blockchain Chapter – BAS
BAS – Alliance for Sustainability is a blockchain specialized chapter of the DTS Digital Transformation Alliance. BAS Chapter was established for the purpose of cooperation and alliance of reputable organizations and individuals, knowledgeable about the market with the same goal of supporting genuine Blockchain businesses and developing a sustainable blockchain industry.
DTS alliance with the alliance’s synergistic strength in mainstream media channels, strategic relationships with major associations, partners and industry experts, prestige in the field of technology in general and blockchain in particular. In addition, the founding businesses in BAS Chapter are experienced in implementing and developing blockchain projects. Since then, BAS wishes to support the market of comprehensive solutions for Blockchain application enterprises to develop more effectively.
Mr. Leon Truong – Chairman of DTS Alliance. Photo: DTS.
BAS Chapter’s goal for the 2021-2022 period is to develop members, attract international, experienced and potential partners in the blockchain field. From there, organize community knowledge communication activities, connection programs, cooperation promotion, support for BAS Chapter member blockchain businesses and contribute to the overall development of the industry.
The DTS Digital Transformation Alliance is an alliance of reputable individuals and organizations operating in the fields of e-commerce, digital services, digital technology, etc., with the same mission to support the community of individuals and SMEs digital transformation to improve competitiveness in the digital economy.
Grasping the trend and potential of digital technology, the DTS Alliance with the orientation of putting people at the center of the digital transformation process initiated the DxSpace project. The project focuses on developing with 6 technology areas, including mobility and location, format, artificial intelligence and big data, balanced social network, smart workplace, especially core technology Blockchain and IoT. In particular, the focus of DxSpace is the research and application of Blockchain technology in the digital space.
The general situation in the world, the government in the country and leading enterprises such as Facebook, Google, Ford, Toyota, Nestle, Prudential … have applied blockchain to improve business efficiency. This technology is practically applied in many areas of life and is growing strongly.
The new directions and opportunities that blockchain technology brings show the great potential and speed of development of this technology. In addition, the legal framework on application, product and service development on the blockchain platform is gradually opening up, which is the driving force behind the development of this field in Vietnam.
In that context, the DTS Digital Transformation Alliance will focus on mobilizing resources, taking advantage of the alliance to connect and develop BAS Chapter, building a launchpad for a practical Blockchain technology application ecosystem and useful for all activities of businesses and social communities.