Blockchain technology is booming in Vietnam and a bright future lies ahead for the industry, according to US-based Globe Newswire, one of the world's largest newswire distribution networks, specialising in the delivery of corporate press releases, financial disclosures and multimedia content to media, investors, and consumers worldwide.

Globe Newswire said that many Vietnamese enterprises attended the Vietnam Blockchain Expoverse, held in Dubai on March 27. The event was an opportunity for blockchain enthusiasts and companies to share their experiences and views on blockchain’s vision, potential, challenges and technology applications.

Gwendolyn Regina, Investment Director of BNB Chain Fund, said that Binance Chain had experienced rapid growth in the last year. Blockchain technology was widely applied, especially to Defi (Decentralised Financed).

She predicted that the interference of Defi, GameFi, and NFT will appear in the next five years. Tokens will be a valuable long-term asset in the future instead of just being a currency or a means of trading. It is currently known as a digital asset that is issued and operated on a blockchain platform of available projects without owning its own blockchain.

Meanwhile, James Wo forecast that blockchain technology would be even more common, with the market expanding ten times larger. The number of users will be as many as the number of Internet users. 

According to Lynn Hoang, Binance SEA Director, Binance is also making efforts to promote the development of blockchain technology in Vietnam
She said Vietnam will soon become the frontrunner in the global blockchain industry. The country is in the top 10 on Binance for various aspiring blockchain projects and products that attracted attention from the global community. 

Tran Dinh, CEO of AlphaTrue, a Vietnamese company specialising in Blockchain products, said Vietnam has abundant human and technology resources and a large blockchain community.

According to him, Vietnam has advantages to become a potential land for blockchain projects, such as diverse choices and low costs. However, he also acknowledged that challenges lie ahead namely human resources, infrastructure and policy. Therefore, Vietnamese blockchain businesses urgently need the support of the government and large corporations./.