According to Decision No. 343/QD-BNV approved by the Ministry of Home Affairs on April 27, 2022, the Vietnam Blockchain Union is allowed to establish and become the first official legal entity where blockchain research and application enthusiasts gather throughout Vietnam.
The Vietnam Blockchain Union is a socio-professional organization operating against the law, having its own charter, headquarters, seal, and property. The association is established on the voluntary spirit of individuals and organizations with common interests, professions, and operational purposes.
The first congress of the Vietnam Blockchain Union (VBU) marking its establishment will be held in mid-May 2022. The congress will announce its official executive committee, principles, and operating directions, and strongly promote extensive cooperation with commercial organizations, businesses, and services on the basis of the Blockchain platform.
In recent years, the introduction and rapid development of Blockchain have been witnessed, especially in the fields of finance-banking, telecommunications, e-commerce, logistics, healthcare, and so on. As the number of businesses, researchers, and engineers pursuing Blockchain is increasing, the need to connect, collaborate, share, and support is getting stronger. Therefore, an official organization with a full legal entity to meet the expansion speed and strong development goals of the Vietnamese Blockchain community is essential.
According to Decision No. 343/QD-BNV approved by the Ministry of Home Affairs on April 27, 2022, the Vietnam Blockchain Association is allowed to establish and become the first official legal entity where blockchain research and application enthusiasts gather throughout Vietnam. The Vietnam Blockchain Union works regularly to protect the legitimate rights and interests of its members and its community, contributing to the country’s socio-economic development.
The Vietnam Blockchain Association’s roles and responsibilities
Mr. Hoang Van Hue, former Deputy Minister of Science, Technology, and Environment (known as the Ministry of Science and Technology), Head of the campaign committee to establish the Vietnam Blockchain Association, said that the official establishment of the Blockchain industry association will become an important milestone, marking Vietnam’s position on the world technology map. The Association creates an environment for the development of high-quality human resources in Vietnam to master Blockchain in order to compete in digital technology with the world. The association will be a place to attract those interested in researching, testing, evaluating, standardizing, and encouraging the application of Blockchain in Vietnam.
The members together share experiences and resources to research, test, apply, deploy and trade Blockchain in accordance with Vietnamese law. The association and its members mobilize private capital to effectively cooperate with a number of related technology universities to conduct applied research on Blockchain as well as train resources in the field of Blockchain.
The Vietnam Blockchain Union (VBU) will be a partner to accompany state management agencies and other social organizations in raising public awareness, advising and consulting on the construction of legal corridors, and standards in the application and development of products and services on the basis of Blockchain.
Relate Article: Legal notes on Blockchain in Vietnam: https://aslgate.com/legal-notes-on-the-blockchain-industry-in-vietnam/