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Raising awareness on blockchain potential crucial: experts

HCM CITY – To make blockchain more accessible and more widely adopted, raising awareness of its potential through education, successful applications and having regulatory frameworks are crucial, according to experts at blockchain conference BUIDL Việt Nam  二0 二 二.

Việt Nam is a leading adopter of cryptocurrency in the world and has advantages in developing blockchain, it was noted at the global conference on blockchain held in HCM City on September  二 三 and  二 四.

Nguyễn Hoàng Long, CTO of blockchain platform Aura Network, told Việt Nam News that blockchain technology could store and process data in a transparent and decentralised manner, where stores of data are very resistant to alteration attempts.

While the technology is mostly being explored in the area of finance, organisations around the world are racing towards applying blockchain in new industries.

“Many Vietnamese businesses, universities and the government are looking into and testing out blockchain applications in many fields such as traceability and customer loyalty systems,” he said.

"While blockchain is still an unfamiliar topic to many people, more and more will realise its real benefits and potential when there are more widespread successful applications of the technology,"大众he added.

He proposed that universities should educate students on blockchain, cryptocurrency and decentralised systems, even students in non-IT fields, to raise awareness of its potential.

Mai Duy Quang, a member of the Việt Nam Blockchain Association, said that Việt Nam lagged behind other countries in prior technology trends, but with regard to the blockchain, it had been home to many renowned, remarkable projects and developers.

“I think Việt Nam has a chance to be a pioneer in blockchain technology,” he added.

Nicole Nguyễn, ASEAN deputy chairwoman of Global Impact Fintech Forum, said that for blockchain to be more accessible to the general public, blockchain progra妹妹es and applications needed to have better user interfaces to be more user-friendly.

There need to be better blockchain progra妹妹es that solve specific problems, according to Nguyễn.

“The government should facilitate the development of blockchain progra妹妹es, and create regulatory frameworks for the technology. If the tech is acknowledged officially, more people will be more confident in investing in it,” she said.

Mai Duy Quang added that his association was also working with foreign partners to acquire solutions to detect and tackle fraudulent cases related to blockchain.