To Hanoi and Beyond

The PumaPay team hits the shores of Vietnam this week as our roadshow continues to the beautiful city of Hanoi. Following the start of our roadshow in Singapore, Vietnam was one of the key locations we wanted to stop at when outlining the tour and it’s not hard to see why.

Why Vietnam?

Governmental Adoption

2017 saw Vietnam become the world’s fastest-growing GDPs, according to the world bank, with an increase of 200%. This rapid rise has seen the country receive global attention as a potential Blockchain Hub as the Vietnamese government turned their focus to emerging blockchain technology. The government in turn has created favorable conditions for the adoption and development of new technologies, thereby making the implementation of blockchain into the country easier and faster. 

Nguyen Van Binh, Head of the Party Central Committee’s Economic Commission explained that they will continue to monitor, encourage, and take advantage of blockchain technology as well as study and develop policies and regulatory framework to minimize associated risks.

Young Working Population

Mr. Ta Viet Dung, Director of Vietnam’s Department of Technology Application and Development, believes that the country has the infrastructure to effectively implement in place and believes the country can be a cradle of blockchain technology. This is in part, due to their young workforce that the country has. Mr. Dung outlined that 40% of the populations is under the age of 25, something which he believes will be a catalyst to attract interest from business and investors in the near future. 

Blockchain Education

To further aid their young population Vietnam’s education sector have ensured there are secondary education courses on blockchain technology. In early 2017, universities started offering courses focused on blockchain to produce qualified technical graduates who can help pioneer the blockchain industry. 

Sources: forbes.com, businessblockchainhq.com, asiablockchainreview.com

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