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Vietnam has taken a substantial step to advance his blockchain ecosystem by publishing his national blockchain strategy.
The strategy announced by the Ministry of Information and Communication (MIC) on October 23 describes a roadmap for the event of a decentralized network by the country and goals to position Vietnam as a “regional leader” within the industry.
The strategy corresponds to the goals of the fourth industrial evolution, a world initiative, to integrate necessary technologies into economies.
Legal framework and recognition of digital assets
As announced within the report published today, Vietnam's strategy incorporates five core focus areas which might be monitored by government agencies, including MIC and Vietnam Blockchain Association.
These areas include “the legal environment, the structure infrastructure, the promotion of innovations and the promotion of international cooperation”.
One of the outstanding goals is the creation of a comprehensive decentralized network of commercial ecosystem, which is supported by national initiatives to accumulate decentralized network platforms, services.
According to the report, the federal government in Vietnam goals 20 necessary blockchain brands and not less than three blockchain test centers in all major cities to enhance decentralized network research, development and application.
Another crucial aspect of Vietnam's strategy is the main focus of determining a legal framework that recognizes digital assets.
Since the blockchain technology for financing, supply chains and logistics becomes more integral, the clarity of regulatory clarity is crucial to make sure the sleek development of decentralized network applications.
The strategy emphasizes the importance of the legal recognition of digital assets for problems similar to money laundering, terrorist financing and the financing of weapon injury.
In addition to the legal framework, the strategy shows the importance of promoting innovations and international cooperation within the industry.
Vietnam plans to work with other countries to advertise decentralized network research and development and create opportunities for cross -border cooperation on this sector.
Building a national blockchain network
Another key element of the strategy is to establish a national blockchain network. Vietnam goals to create not less than three test centers in large cities in an effort to facilitate decentralized network development and application.
These centers will function research, innovation and security centers and supply the infrastructure that’s required to introduce the blockchain in various industries.
The test centers may even play an important role in ensuring the safety and reliability of blockchain applications and promote trust within the technology between corporations and consumers.
The global market chapter for digital currencies within the 1-day diagram. Source: Crypto Total Market Capment on tradingview.com
Selected picture with Dall-E, Diagram from Tradingview
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