The biggest crypto exchange platform in the world and the leading Blockchain development technology company Binance has officially partnered with the Vietnam Blockchain Association. The two would cooperate in conducting research and potential applications of Blockchain Technology and Human Resource Training in Vietnam.
Warmly welcome @cz_binance to VietNam.
Hope that @binance and @VietnamVBA will develop together to promote blockchain in Vietnam. pic.twitter.com/opx7v0m35u
— Dinh Tran (@ReyTheAlpha) June 4, 2022
As per the announcement, the Vietnam Blockchain Association is working on building a bridge with other major technology companies worldwide.
Vietnam is not only an interesting market for Blockchain technology, but it is also one of the leading countries in terms of fostering research and practical application of new technologies. According to a previous Chainalysis research from 2021, Vietnam had the highest rate of crypto adoption in Central and Southern Asia and Oceania. Between July 2020 and June 2021, the region, which mostly consists of India, Vietnam, and Pakistan, received a total of $572.5 billion in transaction value, accounting for almost 14% of the worldwide transaction value.
The Director of the Government Cipher Committee, Ngo Duc Thang, reiterated the same by stating that the Prime Minister’s Decision No. 2117/QD-TTg has blockchain on its list of priorities for research, development, and deployment for the 4th Industrial Revolution. He added:
“In the coming time, the Government will continue to facilitate, encourage and promote early businesses to proactively accelerate the digital transformation process in which blockchain technology is the mainstay. It is expected that by 2030, blockchain will create 40 million jobs, 10% – 20% of the global economic infrastructure will run on Blockchain technology systems.”
Binance has been steadily increasing its presence in the country. The BNB/VNDT (Vietnamese Dong) pair was already listed for trade on Vietnamese crypto platforms in 2019.
The country would promote digital transactions through blockchain in many fields like banking services, industrial production, energy, agriculture, healthcare, retail, and consumption, particularly in the public sector.
It is interesting to see the cooperation of the exchange giant with crypto regulators around the globe after a rough regulatory pressure in 2021.
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