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Discussing Web 3.0 in Vietnam International Technology Festival BUIDL 2023 |
The recent Vietnam International Technology Festival BUIDL 2023 held in HCMC attracted the attention of over 30 worldwide leading startups on blockchain technology in order to seek investment opportunities for Web 3.0 in Vietnam.
Vice President of Hong Bang International University Le Khac Cuong informed that this is the second consecutive year Vietnam has been chosen as the host country for the International Technology Festival. It is a chance for Vietnamese students, especially those majoring in technology engineering, e-commerce, multi-media, to experience Web 3.0 technology.
BUIDL 2023 welcomed the speeches of about 70 domestic and foreign speakers who are technology directors, chief executive officers, founders of blockchain-related technology companies such as YGG, Nethermind, Near Protocol, Sky Mavis. The presenters proposed their measures for cooperation to develop a blockchain community sustainably and healthily for the Web 3.0 economy of the world.
According to Nicole Nguyen, Co-founder of Apac Dao Community (the leading Web 3.0 project community in the Asia – Pacific region), Vietnam can be considered an appealing technology center in the area and could turn itself from a software outsourcing nation to a new technology base.
Content creators can now take advantage of Web 3.0 to increase their income by producing Non-Fungible Tokens (NFTs). A NFT allows content creators to directly sell their work to buyers with high security and transparency, and thus being able to eliminate forgery and fraud.
“In 2023, Vietnam still proves itself as one of the attractive destinations for technology development and human resources training as to Web 3.0 and blockchain technologies”, said Erica Kang, Co-founder of KryptoSeoul – owner of BUIDL Asia brand.
In the list of Top-200 Blockchain and Cryptocurrency Businesses in the World, 7 are Vietnamese. In addition, the country has more than 10 enterprises with a market capitalization of over US$100 million and worldwide influence. Particularly, the three Vietnamese projects reaching the market capitalization level of $1 billion are Coin98, Axie Infinity, and Kyber Network, all of which are gradually conquering the Web 3.0 economy.
More than 16.6 million Vietnamese people (23 percent of the population) own cryptocurrency, 31 percent of whom possess bitcoins. Vietnam is also ranked the third regarding the willingness of accepting cryptocurrency (after India and Nigeria). However, the possession and transaction of this currency has not been recognized by Vietnamese law, and there are no policies yet for NFT.
Therefore, experts in the field have proposed that for Vietnam to truly become a technology hub of Web 3.0 and blockchain, besides more practical applications and products for the community, a legal framework must be introduced before considering the possibility of Web 3.0 economy.
