The Vietnamese Government should adopt specific policies for blockchain, Mr. Nguyen Thanh Hung, Chairman of the Vietnam E-commerce Association (VECOM), told a press conference on May 28 on the Vietnam Blockchain Summit 2018 (VBS 2018), slated for June 8 in Hanoi.

The purpose of VBS 2018 is to share information and discuss policies and promote research into blockchain applications in the digital economy and contribute to the policy formation and legislative process in Vietnam.

Speakers and delegates, Mr. Hung said, will discuss blockchain applications in many fields, such as logistics, order fulfillment, and agricultural product traceability. Delegates will focus on issues of policy and legislative development and coordination between State management agencies in charge of trade, information and communications technology, science and technology, investment, banking and finance, securities, and tax.

“The forum will discuss all policy issues to promote blockchain applications in all economic sectors, not to mention deep virtual assets and pre-coding,” Mr. Hung said.

“Together with automation, artificial intelligence (AI), robotics, and the Internet of Things (IoT), blockchain technology will make a significant contribution to building the digital economy and creating Industry 4.0,” said Mr. Nguyen Huu Tuan from the E-commerce and Digital Economy Department at the Ministry of Industry and Trade. One of the most prominent applications of blockchain is coding currency, which has been highly regarded by regulators, businesses, and the media in recent years.

Blockchain has many other utility applications, such as improving competitiveness in Vietnam regarding logistics and traceability. It also supports the implementation of e-government.

At the press conference, the Organizing Committee cited a survey by the World Economic Forum that forecast that up to 10 per cent of global GDP will be held by public blockchain technology by 2025. There will also be governments that collect taxes through the modern technology.

VBS 2018 will have three sessions. Session 1 features an overview of blockchain, Session 2 discusses the application of blockchain technology in some areas, and Session 3 discusses the policy of promoting research and blockchain application. Organizers expect about 400-500 guests to attend the event, of which 150 will be from State management agencies.