Vietnam Blockchain and Digital Assets Association Ushers in Change
Significant Name Change for the Vietnam Blockchain Association
The Vietnam Blockchain Association has officially rebranded as the Vietnam Blockchain and Digital Assets Association (VBA). This pivotal change marks a new era in its mission to bolster the nation's blockchain services and digital assets ecosystem.
Embracing Emerging Trends in Digital Assets
This transition, announced during a significant gathering, highlights VBA's ambition to evolve from merely promoting blockchain technology to actively shaping Vietnam's digital assets landscape. The rebranding underscores a commitment to aligning with global advancements and influencing the emerging market.
A Unanimous Decision by Members
During the Extraordinary General Meeting, VBA’s Executive Committee, along with representatives from important government sectors, wholeheartedly endorsed the new name. This reflects a consensus that VBA is poised to embrace and lead in the sphere of digital assets.
Significance of the Name Change
The announcement comes amidst Vietnam's strategic push to implement policies that foster blockchain and digital assets development. This strategic initiative was previously highlighted by the Prime Minister's endorsement of the National Blockchain Strategy, which strives for Vietnam to emerge as a powerhouse in blockchain technology by the end of the decade.
Recognition of Digital Assets and Strategic Technologies
Blockchain is now recognized as a strategic technology in Vietnam’s governmental framework, amplifying its significance. Recent legislative changes recognizing digital assets as protected assets reflect the country’s progressive stance towards digital transformation.
Vision for the Future
Nguy?n Vân Hi?n, the Vice Chairwoman and Secretary General of VBA, views the name change as a means to mirror international trends and facilitate the integration of blockchain in various sectors, including legal, financial, and public services. This integration aims to enhance Vietnam's global digital footprint.
New Leadership and Strategic Goals
The General Meeting also ushered in an expanded Executive Committee, with eight new members joining the ranks, bringing the total to 28 leaders. Phan ??c Trung has been reappointed as Chairman and will spearhead this new vision.
Strategic Plan 2025-2030
VBA's upcoming strategic plan involves supporting at least 50 enterprises in implementing blockchain-as-a-service (BaaS) solutions on the Vietnam Blockchain Service Network (VBSN). Additionally, they aim to introduce three public services utilizing blockchain and develop two financial initiatives with blockchain applications.
Innovation as a Driving Force
Chairman Phan ??c Trung emphasized that this transition symbolizes a new foundational phase in VBA's strategic evolution. Technology will now serve as a catalyst for innovation, enhancing the nation's global competitiveness in the digital economy.
Frequently Asked Questions
What led to the name change of the Vietnam Blockchain Association?
The name change reflects VBA's commitment to leading Vietnam's digital assets market and adapting to global technological advancements.
What are the main goals of the newly named Vietnam Blockchain and Digital Assets Association?
VBA aims to strengthen Vietnam’s blockchain services, boost the digital assets sector, and support local enterprises in adopting these technologies.
How does the new name align with global trends?
The new name indicates VBA's intent to integrate blockchain solutions into broader economic and governmental systems, responding to international movements in digital assets.
What is the significance of recognizing digital assets legally?
Legal recognition of digital assets enhances protection for investors and cultivates a safer environment for innovation and investment in the digital economy.
What future initiatives will VBA undertake under the new leadership?
VBA plans to support BaaS solutions, introduce public blockchain services, and facilitate specific projects within fintech, demonstrating its proactive approach to innovation.
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