Vietnamese Government Throws Weight Behind akaChain to Lead Country’s Digitization

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The Vietnamese Ministry of Information and Communications is betting on enterprise-grade blockchain platform akaChain to spearhead its national program for digital transformation.

akaChain to Lead Vietnam’s Digitization

In a press release issued on August 17, Vietnam’s Ministry of Information and Communications announced the launch of akaChain, a scalable blockchain protocol developed by one of the country’s leading IT firms FPT Software to foster Vietnam’s digital transformation.

Notably, akaChain is one of the handful of Vietnam-based digital platforms that were selected by the Vietnamese government to bootstrap the country’s digital transformation in both the public and private sectors.

A national plan envisioned by the Vietnamese Prime Minister sees Vietnam become a global Top 50 country in terms of information and communication technology development and Top 35 in terms of Global Innovation by 2030.

Against that backdrop, at the launch, Mr. Nguyen Thang, Deputy Minister, Ministry of Information and Communications, stressed the urgency of moving to digital in front of local businesses. He said:

“As COVID-19 looms large, it is more important than ever to take their business online. We trust FPT Software’s akaChain will help businesses to quicken the process through blockchain-based applications such as eKYC (electronic Know Your Customer), credit scoring, loyalty programs, traceability, etc., which would be very challenging in the absence of technologies.”

Notably, akaChain is an end-to-end, permissioned, multi-chain network built on top of the Hyperledger Fabric.

AkaChain was established in 2018 with an intention to provide a wide array of permission blockchain-enabled products and services across myriad industries including supply chain, finance, banking, insurance, and shopping mall management.

“From retail, supply chain, to financial services, blockchain applications have moved beyond cryptocurrencies. Built on Hyperledger Fabric, the akaChain platform helps to enable a frictionless, secure, and transparent connection for all parties involved. That is the top concern of every digital business nowadays,” said FPT Software’s Vice President and Chief Operating Officer Tran Dang Hoa.

KardiaChain Eyeing the Multi-Billion Dollar Vietnamese eSports Industry

While akaChain is being positioned to spearhead Vietnam’s imminent digitization, another blockchain solution provider called KardiaChain has been making significant strides in the country’s budding blockchain space.

As earlier reported by BTCManager, KardiaChain had launched the KardiaChain eSports Incentive Platform as part of its plans to tap the $2 billion Vietnamese eSports Industry.

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