Latest news with #NationalBlockchainStrategy


Business Upturn
28-07-2025
- Business
- Business Upturn
Vietnam Blockchain Association renamed to 'Vietnam Blockchain and Digital Assets Association'
Ho Chi Minh City, Vietnam, July 28, 2025 (GLOBE NEWSWIRE) — The renaming marks a strategic turning point in the journey to redefine the role, mission, and vision of the Vietnam Blockchain and Digital Assets Association (VBA), reaffirming its commitment to promoting the development of the Vietnam Blockchain Service Network (VBSN) toward a comprehensive, sustainable national-scale blockchain ecosystem. On July 25, 2025, the Vietnam Blockchain Association officially announced its new name: Vietnam Blockchain and Digital Assets Association (VBA). The new name reflects the Association's shift in direction, from promoting blockchain technology to becoming a central force in shaping and leading the development of Vietnam's digital assets market and blockchain ecosystem, starting with the VBSN. 100% of delegates approve renaming to Vietnam Blockchain and Digital Asset Association A representative from the Ministry of Home Affairs stated that the new name demonstrates VBA's progressive vision and timely adaptation to the emerging digital assets market. The renaming decision was unanimously approved by 100% of the Executive Committee, members, and representatives from government agencies including the Ministry of Home Affairs and the Ministry of Science and Technology during the Association's Extraordinary General Meeting in 2025. This event took place in the context of Vietnam issuing a series of strategic policies guiding the development of blockchain and digital assets. On October 22, 2024, the Prime Minister signed Decision No. 1236/QĐ-TTg to announce the National Blockchain Strategy, aiming for Vietnam to become a regional leader with international standing in blockchain by 2030. According to Decision No. 1131/QĐ-TTg issued on June 12, 2025, blockchain is listed among 11 strategic technologies. Notably, the Digital Technology Industry Law, passed on June 14, 2025 and effective from January 1, 2026, officially recognizes digital assets as legally protected assets. According to Ms. Nguyễn Vân Hiền, Vice Chairwoman and Secretary General of VBA, 'This name change not only reflects our alignment with global trends but also affirms our determination to promote the integration of blockchain technology and digital assets into Vietnam's legal, financial, and public service systems, helping the country to participate in the global digital transformation actively.' The General Meeting also approved the addition of eight new Executive Committee members, expanding the leadership body to 28 members. Mr. Phan Đức Trung was reappointed as Chairman of VBA, alongside three Vice Chairwomen and Chairmen: Ms. Nguyễn Vân Hiền, Mr. Nguyễn Trọng Khang, and Mr. Phan Chiến Thắng. Chairman Phan Đức Trung outlines 5-year strategic plan (2025–2030) Looking ahead to the 2025–2030 period, VBA aims to support at least 50 domestic enterprises in deploying blockchain-as-a-service (BaaS) solutions on the VBSN platform. The Association will also pilot at least three public services using blockchain and develop two fintech initiatives applying blockchain in the financial and banking sectors. Chairman Phan Đức Trung emphasized, 'With our new name, an expanded strategic direction, and a strengthened leadership team, VBA is entering a new phase of strategic development. In this stage, technology is no longer merely a goal, it is a driving force for innovation, enhancing national competitiveness and contributing to Vietnam's presence on the global digital economy map.' For more info about Vietnam Blockchain and Digital Assets Association:Website: X:


Arabian Post
08-05-2025
- Business
- Arabian Post
UAE Blockchain Market Poised for Rapid Expansion by 2030
The UAE's blockchain market is expected to experience robust growth, with a compound annual growth rate of approximately 42% from 2025 to 2030. This surge is being driven by strategic government initiatives aimed at harnessing the potential of blockchain technology, positioning the UAE as a global leader in the sector. The Emirates Blockchain Strategy 2021, alongside the Dubai Blockchain Strategy, has been a key factor in propelling the country's blockchain ambitions. The UAE government aims to transform Dubai into the first city fully powered by blockchain technology, establishing the city as a central hub for digital innovation. The National Blockchain Strategy, launched to cover the period from 2021 to 2031, outlines a bold vision for the country, with a target to convert 50% of government transactions into blockchain-based systems. This initiative is set to fundamentally reshape the public sector, enhancing transparency, efficiency, and security in governmental operations. At the heart of this growth is a clear government-driven commitment to blockchain, which has fostered a conducive environment for both local and foreign investors. By encouraging blockchain adoption across various sectors, the UAE has attracted substantial interest from international businesses seeking to tap into this emerging market. Blockchain's applications in sectors beyond government administration, such as finance, healthcare, and logistics, are seeing increased adoption across the UAE. The integration of blockchain into these industries promises to revolutionise processes, particularly in terms of data security and automation. The rise in interest surrounding digital assets, especially cryptocurrencies such as Bitcoin and Ethereum, has further bolstered blockchain's relevance in the UAE. As a growing hub for cryptocurrency, the UAE's regulatory bodies have facilitated the establishment of secure environments where blockchain-powered digital assets can thrive. The Abu Dhabi Global Market and Dubai Multi Commodities Centre have set high standards for crypto businesses, ensuring that these ventures operate within a structured, regulated framework. This regulatory clarity has positioned the UAE as a safe and attractive destination for cryptocurrency investors and entrepreneurs. See also Telegram Bond Fund to Tokenise $500m Bonds on TON Network The surge in blockchain-related developments has also had a ripple effect on startup ecosystems in the UAE. Many tech startups are focusing on blockchain innovations, tapping into the opportunities offered by a market eager for cutting-edge technology solutions. The government has offered various incentives to these startups, making it easier for entrepreneurs to develop and launch blockchain solutions across different industries. This includes support for research and development, tax incentives, and access to venture capital funding. International investors have also shown significant interest in the UAE's blockchain market. The country's stable regulatory environment, coupled with its proactive stance on blockchain integration, makes it an attractive destination for global investors seeking exposure to the digital economy. The UAE's financial and regulatory bodies, such as the UAE Central Bank, have been instrumental in ensuring that blockchain technologies are seamlessly integrated into existing financial infrastructure, laying the groundwork for future innovations in digital banking and transactions. The UAE's focus on blockchain adoption has resulted in collaborations with global technology giants. International companies, especially those from the fintech and tech sectors, are increasingly establishing a presence in the UAE, taking advantage of the region's favourable business environment. These collaborations are not only elevating the UAE's technological landscape but also contributing to the global development of blockchain technology. One of the UAE's strategic advantages is its ability to position itself as a gateway for the Middle East, Africa, and Asia in terms of blockchain technology. The country's well-established infrastructure, highly developed financial services industry, and strong governmental support provide an ideal backdrop for the scaling of blockchain-related businesses and projects. In addition, the UAE is committed to building a strong talent pool in blockchain technology. With the rapid rise of blockchain across industries, there has been a growing demand for professionals with expertise in blockchain development, smart contracts, and digital asset management. The UAE has introduced various educational initiatives to address this demand, including partnerships with international universities and the establishment of blockchain-focused training programmes. Despite the promising outlook, the UAE's blockchain market faces challenges, including the need for continuous technological innovation and regulatory adaptation to keep pace with the rapidly evolving sector. The country will need to ensure that its legal and financial infrastructure remains flexible and dynamic, catering to the needs of blockchain developers, crypto investors, and businesses seeking to integrate blockchain into their operations. The adoption of blockchain technology across various sectors will require overcoming cultural and institutional resistance. Although the government has made significant strides in promoting blockchain, further education and awareness campaigns may be needed to ensure that blockchain's potential is fully realised across all industries. Arabian Post – Crypto News Network