The Ministry of Information and Communications of Vietnam has announced the launch of a project based on the akaChain blockchain, which should help accelerate the country’s digital transformation.
FPT Software is behind the development of the akaChain blockchain based on Hyperledger Fabric. The project was announced in 2018 as a protocol for launching many products and services for a wide variety of industries. In addition to akaChain, the Vietnamese authorities have selected several more blockchain-based projects to accelerate digital transformation in both the public and private sectors.
According to the Prime Minister of Vietnam, by 2030 the country should enter the top 50 for the development of information and telecommunication technologies, and in the top 35 for global innovation. Deputy Minister of Information and Communication Nguyen Thang highlighted the importance of an urgent digital transformation for local businesses:
“COVID-19 continues to gain traction and it is more important than ever to do business online. We believe that akaChain will help businesses accelerate their digital transformation by leveraging blockchain-based applications like eKYC (user identification solution), credit scoring, loyalty programs and more. “
Recall that, as reported in March, Vietnam will launch the first regulated cryptocurrency exchange.