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A role for Blockchain in e-government

Released at: 17:13, 15/06/2018

A role for Blockchain in e-government

Photo: VnExpress

Blockchain Forum 2018 in Hanoi on June 14 hears of where the technology is heading in Vietnam.

by Minh Do

Developing Blockchain to build e-government will be major part of plans from the Ministry of Science and Technology (MoST) to support the development of the technology, Minister of Science and Technology Chu Ngoc Anh told the Blockchain Forum 2018, held by the ministry and Vnexpress on June 14 in Hanoi.

Mr. Nguyen Van Binh, Head of the Party Central Committee’s Economic Commission, told the forum that the development of science and technology has impacted the global political system and Blockchain is expected to play a role in future technology. Many countries have already adopted policies and promoted its advantages. As such, he said, Vietnam continues to monitor and encourage its development and prepare legal policies to minimize any associated risks.

Vietnam has missed many opportunities already during Industry 4.0, according to Mr. Do Van Long, Regional Chief Strategy Officer at Infinity Blockchain Labs, but it is now opening up to the Blockchain. The technology is no longer new and its collects initiatives in the tech sector. It presents both an opportunity and a challenge around the world and in Vietnam, where many still mistake it for a digital currency.

MoST is building Project 844 on supporting an innovative national startup ecosystem to 2025, which will allow Blockchain to develop. Human resources will also be key, and Vietnam needs training facilities and a certification agency for Blockchain to create an ecosystem, according to Mr. Adam Vaziri, CEO of the QRC Group. Mr. Tong Hsien-Hui, Deputy Head of Investments at SGInnovate, told the forum that Vietnam has a lot of talent and much potential to develop the technology. “Banking and healthcare are the two first industries where Vietnam could apply Blockchain,” he said.

Tomochain, which specializes in the application of Blockchain technology in Vietnam, employs Vietnamese staff but is registered in Singapore. Founder Mr. Vuong Quang Long said that being registered in Singapore makes investment from international companies easier to access as Vietnam is still to have clear policies on such investment. “This is why we had to cooperate with a Singapore-based law company to operate,” he said. “We hope Vietnam will soon adopt a legal framework on calling for investment from overseas.”

Mr. Dao Dinh Kha, Director General of the Department of Information Technology at the Ministry of Information and Communications, said the ministry plans to review the Law on Information Technology and ensure a consistent approach given that some international organizations have certain concerns about Blockchain. “We need to thoroughly look at the advantages of Blockchain and alleviate any negative impact on society,” he said. “Local enterprises also need to be confident about and understand it. Human resources training will also be needed under a long-term strategy.”

MoST will cooperate with ministries, departments, and sectors to prepare plans for developing Blockchain and will support its development by implementing relevant programs and encouraging startups to apply the technology.

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