Vietnam Prime Minister Puts “Blockchain Technology” on its Priority List

It is to ensure they “actively participate in the Fourth Industrial Revolution," states the order.

Amidst the on-going price action and institutional attraction the digital asset industry is getting, Vietnam’s Prime Minister Nguyen Xuan Phuc has signed an order which places cryptocurrency as one of the top four technologies on priority.

The order dated Dec. 16, 2020, prioritizes four fields of technologies viz. digital technology domain, physics, biotechnologies, and energy and environment sector.

Under the digital technologies domain, the government has included blockchain technology.

Other technologies part of this section includes Artificial intelligence, Internet of Things, Big data analytics, Cloud computing, Quantum computing, Next-generation network technology like 5G, 6G, other, Virtual reality, Augmented reality, Intelligent, and Adaptive cybersecurity, Digital twin, Plant simulation technology, and Precision Agriculture.

The prioritization is “for research, development, and application to actively participate in the Fourth Industrial Revolution,” so the country can get a headstart and not be left behind.

As per the order, ministries, cities, and relevant organizations “shall base themselves on this Decision” to orient and prioritize allocating resources for research, development, and technology application.

All the required parties have to start acting on it from the date of the issue of the order and report to the Prime Minister.

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