Vietnam poised to become regional financial hub through blockchain technology

Vietnam could become a regional financial hub based on blockchain technology, stated Mr. Tran Huyen Dinh, Chairman of the Fintech Application Committee (Vietnam Blockchain Association - VBA).

He was speaking at the ABAII Unitour program themed "Exploring the Power of Blockchain & AI in Fintech: The Wave of Future Technology," organized by the Institute of Blockchain and Artificial Intelligence Technology (ABAII) and the VBA on December 26.

According to Chainalysis, Vietnam currently ranks fifth globally in the Cryptocurrency Acceptance Index according to the 2024 report. Additionally, with over 17 million people owning cryptocurrency and the capital flow from the blockchain market reaching over $105 billion in the 2023-2024 period, Vietnam is positioning itself as one of the pioneering countries in blockchain application.

Mr. Dinh also shared insights from Lugano, Switzerland, the first city in the world to recognize Bitcoin, USDT, and LVGA as official payment methods.

Lugano demonstrates the potential of blockchain in reshaping traditional finance, enhancing transparency, and ensuring transaction safety. Therefore, Vietnam, with its rapid technological adoption and dynamic market, can learn from Lugano to become a blockchain-based financial hub in the region.

"The integration of blockchain and AI technology not only helps optimize transaction costs but also creates a driving force to attract international capital, opening up exceptional development opportunities for Vietnam's digital economy," Mr. Dinh shared.