The Vietnam Blockchain Summit 2022 will take place on October 19 to 20. — Photo courtesy of VINASA

HÀ NỘI — Vietnam Software & IT Services Association and Vietnam Blockchain Association (VBA) have announced the Vietnam Blockchain Summit 2022 to be held from October 19 to 20.

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The organisers said attendance at the summit will include big names in the field, such as FTX, OKChain and DFG, and popular firms in Việt Nam, including FPT, Kyber Network and Sky Mavis, who will share their experience in building blockchain platforms for finance, agriculture, education and environment.

The summit will also feature 20 conferences, in which VBA speakers and international experts discuss growing trends in global blockchain – NFT, Metaverse and DeFi, to name a few. Those notions are technologically essential for Việt Nam as they lie at the heart of the Fourth Industrial Revolution.

Specifically, NFT, cryptographic assets on a blockchain with unique identification codes and metadata that distinguish them from each other, can find use in ID management. Metaverse, on the other hand, allows users to experience a virtual world that technologically links to aspects of their physical world.

The summit will also be a great opportunity for start-ups and firms to showcase their ideas and solutions to potential customers and partners and engage in business-matching.

"As an organiser of the summit, VBA will hold a series of conference on blockchain, with the attendance of leading experts in the field, to shed light on the opportunities and risks carried by blockchain applications and develop a robust legal framework in this regard," said a VBA representative.

Blockchain is a gamechanger in digital transformation. Unfortunately, it has been widely misconceived as a cryptocurrency, while it is just an application of the technology in finance.

VBA believed the summit would provide a full insight into the technology's potential application in Fintech, agriculture and education, and a deep understanding of the legal frameworks applicable to digital assets worldwide.

The global blockchain market was valued at over US$5.9 billion in 2021 and is expected to grow at a compounded annual rate of 85.9 per cent between 2022 and 2030.

Meanwhile, Việt Nam's blockchain market is estimated to be worth $2.5 billion by 2026, five times higher than the figure in 2021. — VNS