Solve practical application problems for Ho Chi Minh City Blockchain ecosystem
(Dan Tri) - After one year of implementing Resolution 57, Ho Chi Minh City's Blockchain ecosystem has recorded many notable advances. Projects are starting to move from research to actual operation although there are still bottlenecks.
Resolution 57-NQ/TW of the Politburo identified the development of science, technology and innovation as the most important breakthrough and the main driving force to bring the country forward in the new era.
In the list of strategic digital technologies, Blockchain is considered one of the key spearheads that needs to be prioritized for research, mastery and strong application to promote the digital economy.
The Blockchain field in Ho Chi Minh City's startup ecosystem has risen to 70th position in the world (Photo: TheBlock).
In Ho Chi Minh City, the Blockchain ecosystem has recorded many important milestones after one year of implementing Resolution 57. No longer stopping at "theoretical research" projects, the market is witnessing a strong transition to the "practical operation" stage with specific applications in origin traceability, data authentication and supply chain management.
However, the journey from pilot to large-scale commercialization still has "bottlenecks" in terms of legality, data quality and system integration capabilities.
Dan Tri reporter had a conversation with Mr. Nguyen The Vinh, Chairman of the Ho Chi Minh City Blockchain Association (HBA), to gain a deeper insight into these changes as well as the real problems that businesses are facing.
According to StartupBlink 2026, the Blockchain field in Ho Chi Minh City's startup ecosystem has risen to 70th position in the world. Looking back at the past year, how do you evaluate the transition of Blockchain projects from the "theoretical research" stage to "practical operation" according to the direction of Resolution 57?
- First of all, this is an encouraging sign, but rankings cannot replace actual economic efficiency.
After one year of implementing Resolution 57, the most obvious change in my opinion is not in the number of new projects, but in the way the market asks questions. In the past, many projects started with the question "where can we put Blockchain?" Up to now, businesses have begun to ask "which problems really need Blockchain and can the effectiveness be measured?"
Some application directions such as traceability, data authentication, digital identification, smart contracts and supply chain management have moved closer to production and business activities. However, it must be admitted that the majority of the market is still in the testing or narrow deployment phase. We have gone from research to pilot, but we cannot say we have moved to large-scale commercialization.
The measure of the next stage should not be the number of announced Blockchain projects, but the number of projects that have paying customers, can integrate with existing systems and continue to operate after the pilot funding ends.
In addition to the above impressive numbers, what are the biggest bottlenecks or challenges that the Association and its member businesses have identified after one year of implementation?
- The biggest bottleneck is still the gap between policy orientation and the implementation process of a specific project.
Businesses can see opportunities, but often have not clearly defined which agency approves the test, what range of data is allowed to be uploaded to the system, who is legally responsible when smart contracts go wrong, as well as to what extent data or certificates on the Blockchain are recognized.
Mr. Nguyen The Vinh, Chairman of Ho Chi Minh City Blockchain Association (Photo: HBA).
The second bottleneck is input data quality. Blockchain can make it difficult for data to be modified after recording, but it does not guarantee that the original data is correct. If the data entry, validation, and validation processes are not yet reliable, we are just very securely storing data that may not be accurate.
Third is the integration problem. Businesses cannot abandon their entire ERP (integrated management software system - PV), accounting system or existing supply chain management software just to use Blockchain. A solution that can only be demonstrated independently but cannot connect to existing infrastructure will be very difficult to commercialize.
Finally, there is awareness. A part of the market still identifies Blockchain with cryptocurrency. On the contrary, there are also businesses that see Blockchain as the solution to all problems. Both of these views cause the market to develop in the wrong direction.
One of the bright spots is the deployment of Blockchain to support origin traceability for more than 200 export businesses. Can you share about the economic efficiency and direction for expanding this model?
- We believe that the effectiveness of traceability must be measured by business results, not just by the number of QR codes issued or the number of businesses registered to use them.
Important indicators include the time to prepare documents for each shipment, the cost of checking and comparing documents, the number of times data must be re-entered, the ability to handle complaints, the time to determine the cause of an incident and the level of acceptance of import partners.
Blockchain promotes value when a supply chain has many parties participating but no party can act as an absolute validator on its own. At that time, a shared data system that has a verifiable history and is difficult to modify will help reduce control time as well as disputes between parties.
However, we do not want to give a general savings rate for all businesses, because the effectiveness depends greatly on the initial level of digitalization of each unit. Businesses that already have good data systems will see benefits faster; Businesses still managed by paper must digitize the process before talking about Blockchain.
In the coming time, suitable areas for expansion include agricultural products, fisheries, pharmaceuticals, high-tech products, logistics and carbon credits. However, the principle is to only expand after the current model proves effective with data.
With the event "HCMC Technology Festival - Conviction", how did the Association connect Vietnamese Blockchain solutions with core technology infrastructure such as AI chips and data centers of international partners?
- We do not look at Blockchain, AI, semiconductor chips and data centers as separate fields. A new technology system often requires many layers of infrastructure to coordinate with each other.
AI helps process and analyze data; Blockchain supports origin authentication, history and data access; Data centers provide storage, computing capacity and continuity; while chips and edge devices help data be recorded right at the place of origin.
Mr. Vinh commented that projects have begun to move from research to actual operation although there are still bottlenecks (Photo: HBA).
At networking activities, the Association's goal is not simply to bring businesses on the same stage. We aim to form specific groups of problems, such as authenticating AI-generated data, managing IoT device data, traceability of components, or sharing data across multiple organizations while controlling privacy.
Competitive advantage does not come from attaching many trendy technologies to one product. It only appears when that combination solves a problem with lower costs, higher reliability, or creates a business model that was not possible before.
How to bridge the gap between academic research and the "real world" needs of Web3 businesses?
- Actually, this is a need of many industries, not just the Blockchain field, and also needs many responsible agencies to participate in solving it.
Within the scope of the Association's authority, HBA will organize communication about new technologies and new trends, the most important of which are new legal regulations for the industry. The biggest gap today is not necessarily in programming knowledge, but in the ability to understand a business problem and build products that can operate within the legal framework.
Students can write smart contracts, but need to understand more about security, data privacy, risk management, accounting, auditing, and user experience. A Web3 product cannot enter the market if the team only understands the technology but not the industry in which it is being applied.
At the same time, we combine suitable businesses that share the needs of the problem that the Blockchain industry is solving for university students.
After a year of "running fast", what does the Association expect for Ho Chi Minh City's ranking in the next 2-3 years and what message does it want to send to international investors?
- We expect Ho Chi Minh City's ranking to continue to improve, but do not consider ranking as the only goal.
For international investors, Vietnam is not just a market with a large community of digital asset users. This is also a manufacturing, exporting and service economy with great demand for data authentication, supply chain digitization and new financial infrastructure development.
The attraction of Ho Chi Minh City lies in the fact that new mechanisms are being formed and businesses have the opportunity to participate in the market creation process early.
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