April 10, 2018
New technologies such as AI, IoT, Big Data and Machine Learning are gradually transforming the startup tech investment landscape in Vietnam and overseas. Along with the 4.0 industrial revolution as well as the wave of new technologies, it is impossible not to mention the evolution of Blockchain – the technology that has been arguably the biggest innovation after the arrival of Internet 20 years ago.
As with previous years, real estate, biotechnology, transportation technology or communications are amongst the areas that attract huge attention from a large pool of investors. In this day and age, however, emerging technologies such as AI, IoT, Big Data and Machine Learning are gradually making their way and transforming the startup tech investment landscape in Vietnam and overseas. Along with the 4.0 industrial revolution as well as the wave of new technologies, it is impossible not to mention the evolution of Blockchain – the technology that has been arguably the biggest innovation after the arrival of Internet.
The Potential of Blockchain Technology
The concept of Blockchain technology has become popular over the last two years. However, it is just the beginning of everything, in the future, blockchain industry is expected to play a crucial role in most of the economic and social fields in the near future.
More than just a platform for digital currencies such as Bitcoin, blockchain technology offers a wide range of applications in various industry verticals. Bitcoins, the mystery surrounding the name Satoshi Nakamoto, the opportunity for super investment earnings are of some factors contributed to blurring the incredible benefits of Blockchain technology to other areas apart from the monetary area.
If looking deeper, we will see an ultimate data protection barrier with significantly low operation costs compared to traditional systems. Such outstanding values like data security, privacy and complete control under the companies or individuals allow everyone to create and manage their own Blockchain.
Some applications such as asset protection, document records, security enhancements are just a few amongst numerous breakthrough applications that blockchain brings to users, startups, governments and companies.
How Has the Blockchain Investment Landscape been Developing?
A series of banks and major technology companies are continuously pouring heavy investments into blockchain technology. In particular, Intel, Merrill Lynch Bank of America, HBSC and dozens of large organizations have just invested $ 107 million in R3, a blockchain-like technology development group for financial firms.
Nasdaq Ventures has also announced its strategies to invest in Blockchain startups. The firm also informed that it had just invested $10 million in these startups, either at the potential or developing stage.
Most recently, UNICEF, the United Nations Children’s Fund, announced its funding for Blockchain-based startups through the UNICEF Initiative. The organization is currently funding from its capital, from $ 50,000 to $ 90,000 for start-ups that have the potential to impact on the globe. This is not the first time the UNICEF Innovation Fund has embarked on blockchain technology to address some of the most fundamental issues of global development goals.
“Fosun is the only investor in the first fundraiser of Shanghai Distributed Technologies Co Ltd.,” said Fosun CEO Da Hongfei. “We are aiming to implement Blockchain technology in our business areas in order to further diversify our portfolio such as financial services and pharmaceuticals.”
How About the Blockchain Storming into Vietnam?
Mr. Vu Ngoc Hoang, IBM Vietnam Solutions Architect, said that Vietnam seemed still confused and hesitated when mentioning about Blockchain. However, with the preferential policies on technology development as well as the technology advancement, Vietnam is considered to be a new wild west for blockchain development.
This is a ripe time for organizations and individuals who are learning about this emerging technology to compete, unleash their full capabilities and competitive edge in a completely new and creative environment.
So, how can Vietnam conquer the world with blockchain technology? How to address and overcome all of the difficulties? How to innovate with the benefits lying in this technology? What should investors take into consideration prior to making investments into blockchain? What do blockchain startups need to do to attract investors? All will be answered in Vietnam Blockchain Week (VBW) – the first and also the biggest international blockchain event expected to gather over 1,500 participants with a renowned lineup of speakers from more than 30 leading companies/corporations in the fields of blockchain, finance, banking, AI, etc. The event will be taking place on March 7 and 8, 2018 at Riverside Palace, Ho Chi Minh City.
With the premier presence of global organizations such as OCBC, World Bank, NEO, Fintech Hong Kong, London Stock Exchange, Bank of America, Kraken, etc., the whole picture of this promising technology in Vietnam will be in-depth discussed by leading pioneers in the Vietnam blockchain community, such as Mr. Nguyen Hung Nguyen (Vice Chairman of Vietnam National Payments Joint Stock Company), Mr. Tran Huu Duc (Director FPT Ventures, Mr. Adam Vaziri (Director of Digital Currency Association of the United Kingdom), Mr Luu The Loi (Founder and CEO of Kyber Network) and Mr. David Nguyen Vu (Director of Trade and Investment Promotion Center – VietCham Singapore).
Information about the organizer: https://www.blockchainlabs.asia
LinkedIn: Infinity Blockchain Labs