In the United States, Government agencies such as the Ministry of Finance, the Ministry of Foreign Affairs, the Ministry of Defense, the Ministry of Homeland Security, have tested Blockchain technology in their organization. The big US banks have applied or are in the process of preparing to upgrade systems that have applications Blockchain. In Europe, Germany and Switzerland are pioneers in applying Blockchain to Fintech.

In Japan, many ministries have upgraded their information network. In particular, the Blockchain application is prioritized. In China, though given the restrictive about cryptocurrency, Blockchain technology received positive support from both the people and the Gov leadership.

Vietnam is also facilitating the development of Blockchain in many fields. However, in order to fill the void of technological human resources for this process, Vietnam will have to create more opportunities for foreign firms or Vietnamese firms who have technological advantages.

On the other hand, with its large population, Vietnam will face challenges such as raising Blockchain awareness in public, educating its expertise, completing the legal framework and building the ecosystem rounding out the Blockchain technology.

According to Infinity Blockchain Labs (IBL), til of May 2018, there were about 400,000 open source projects, as well as 800 international startups building Blockchain’s global business model. Specifically, the financial and online payment industry can earn about 20.3 billion dollars by 2030 with this technology.

In addition, IBL estimates that in the next 10 years, the number of people using Blockchain platform’s services in Vietnam will reach 30 million.

Recently, the TECHFEST 2018 event in Danang has noted a noteworthy proposal for the establishment of the e-Government Alliance in the 4.0 Industrial Age. Accordingly, LINA NETWORK Chairman Vu Truong Ca said that the need to apply Blockchain to the government management model is the indispensable trend, besides the process of applying this technology to private services in the future.

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