Ho Chi Minh City, June 12 2019 – Vietnam Blockchain Corporation (VBC), a partner of Infinity Blockchain Labs (IBL), introduced blockchain and its applications trends in the future of technology, the industrial revolution 4.0 at the technology conference, Digital Summit 2019. This conference was organized by KPMG, the business consulting group, with the participation of leading software companies such as Oracle, SAP, Microsoft, and IBM. VBC was honored to join KPMG in this event for blockchain solutions and services.
The KPMG Digital Summit 2019 is considered to be one of the largest technology conferences of 2019. The event brought key players in Vietnam’s technology industry together and attracted more than 500 employees. The biggest goal of the event is to create opportunities for domestic and foreign enterprises through understanding applications of technology services and solutions in business operation and management.
In this new era of technology, companies have been given new opportunities for development and market expansion faster and easier. Additionally, the challenge of “transforming” from “local” to “global” is becoming clear. In order to embrace these advances, companies are challenged to adapt to changes. Facing such opportunities and challenges, international corporations are looking to partner with technology companies for further research and development in creating targeted value solutions. Blockchain has become a standout technology in leading the way in feasibility and applicability in many field industries.
At the Conference, Mr. Do Van Long, CEO of Vietnam Blockchain Corporation and Regional Chief Strategy Officer of IBL, shared the potential of blockchain technology through solutions currently being implemented in Vietnam such as Agridential, an agricultural product traceability solution, Smart Ballot, a smart voting application, and”Self-Sovereign Identity,” an identity solution.
Introducing the Blockchain Solutions
Agridential is the GS1-compliant blockchain-based traceability solution that enables transparency in information and product quality which increases consumer confidence. Blockchain traceability helps consumers verify the quality of agricultural products and nearly eliminates fraud and risks in the supply chain. This enhances brand reputation and creates value for businesses in the local market. Information is distributed and scattered into multiple versions on a multi-server community that ensures privacy. The information is not centralized on a server, so phishing is almost impossible.
Blockchain traceability helps consumers verify the quality of agricultural products and nearly eliminates fraud and risks in the supply chain. This enhances brand reputation and creates value for businesses in the local market. Information is distributed and scattered into multiple versions on a multi-server community that ensures privacy. The information is not centralized on a server, so phishing is almost impossible.
All information is recorded by individuals (gardeners, cooperatives, distributors …) in order to avoid the situation that one party manipulates all information. Since all information is recorded using blockchain technology, the information is immutable, meaning the information cannot be deleted, modified, or tampered with.
GS1 is a globally recognized standard. Therefore, the application of GS1 standards in the traceability of blockchain technology applications makes verification easier when exporting to major markets and contributes to the increase of product value.
Smart Ballot is an innovative application that uses Blockchain technology to provide improvements to traditional voting and ballots. Smart Ballot provides a new means of voting that simplifies the process while providing accuracy, immutability, and speed. A highlight of this voting solution is its transparency that, while respecting anonymity, allows any individual to verify the truth and accuracy of polling data.
The Self-Sovereign Identity solution applies Blockchain in digital identification to replace conventional manual customer identification by methods such as direct in-person record verification. This presents applications for government, banks, and financial institutions to run efficiently in saving time, money and human resources, with a transparent, safe and reliable management system to serve the community and society.
KPMG Digital Summit 2019 is considered as one of the biggest technology conferences of 2019 in digital technology
Applying these next-generation innovations
The Agridential solution has proven itself beyond technical tests with a successful use case with mango products in My Xuong Cooperative in Dong Thap. Each mango has been given a QR Code identification stamp using GS1 standard blockchain technology. Consumers can easily look up all the information of the mangoes from their origin such as fertilizing, spraying, and fruit bags, along with information on harvesting and distribution.
Besides My Xuong mango fruit, Agridential and its GS1 standard traceability are also behind other products in provinces within Vietnam. Other case studies include Biophap organic turmeric powder in Da Nang, Mayaca coffee in Da Nang, and Buoi Nam Roi in Ben Tre. VBC’s researchers are also working to pilot the blockchain traceability solution with other products around Vietnam.
Agridential application interface
Other applications for Agridential
Smart Ballot was introduced at the National Entrepreneur Innovative TechFest 2018 for voting participants in the semi-final and final. The process and method of voting are publicly available to all participants of the event. In order to ensure objectivity, Smart Ballot only accepts votes when a phone number corresponds to a QR code sent to the system. The system avoids fraudulent multiple votes and enhances maximum authenticity in counting voting. Thanks to the benefits of blockchain, voting information is kept immutable and transparent on all nodes on the network. Nobody can remove, correct, intervene, or manipulate any votes cast.
Smart Ballot interface
The digital Identity with blockchain technology has also been implemented in the project “Blockchain Solution to Address Worker Right Challenges.” The goal of the project is to build and pilot blockchain technology solutions in solving a number of labor problems. The project will span 30 months, from January 2019 to June 2021.
The project has been created in partnership with The Asia Foundation (TAF), HMC Clean House Services Development Joint Stock Company (JupViec.vn), and with support from the Bureau of Democracy, Human Rights and Labor (DRL) under the United States Department of State.
Blockchain technology can be applied to protect the rights and interests of workers and magnify the benefits from existing programs and projects to support workers. For Vietnamese workers, Blockchain technology can contribute to promoting compliance with current legal regulations, increasing transparency and accountability, certifying resumes, and minimizing the risk of being delayed or unpaid in the contract. However, the introduction of blockchain technology as an application for social problems is very new. Experimental initiatives to provide empirical evidence that applications solutions are essential.
The project “Blockchain solution to address worker right challenges” has two main objectives. The first is to minimize the violations of labor rights for the workers through smart contracts based on blockchain technology. The second objective is to support the creation of an environment for the application of blockchain technology for social benefits in Vietnam. In the short term, the project will help more than 3,000 female workers, especially hourly domestic workers in Vietnam’s larger cities like Hanoi, Ho Chi Minh City, Hai Phong, and Da Nang.
The signing ceremony of the cooperation project agreement “Blockchain application in solving workers’ problems”
How Blockchain technology is implemented in the project
With these examples and the lessons learned at the conference, blockchain has tremendous potential in its applications across all sectors. The Vietnamese government has also embraced the policy of developing the country for the Industrial Revolution 4.0 with a series of programs, support projects, and entrepreneurship competitions. With such a favorable climate for innovation, technology companies are becoming incentivized to create business solutions. We can expect coordination between leading technology companies, business consulting firms, and research and development to create next-generation blockchain innovations.
Vietnam Blockchain Corporation (VBC)
Vietnam Blockchain Corporation (VBC) is a technology company providing blockchain solutions and services in Agriculture, Manufacture, Supply Chain, Logistics, E-Commerce, Fintech, Sharing Economy, Public Services, and Smart City.
VBC aims to power Vietnam in becoming a Blockchain Country & Expert Hub.
VBC, formerly Vietnam Blockchain Country, is a subsidiary of Infinity Blockchain Labs
VBC Contact information
Address: 5th Floor, Flemington Building, 182 Le Dai Hanh, Ward 15, District 11, TP.
Hotline: (+84) 0377 887 403
Representative: Mr. Do Van Long
Director – Vietnam Blockchain Corporation
Regional Chief Strategy Officer – Infinity Blockchain Labs
Infinity Blockchain Labs (IBL)
Infinity Blockchain Labs (IBL) is a visionary R&D company committed to advancing society with next-generation solutions. IBL receives global recognition through its renowned initiatives and influential partnerships while leading the blockchain ecosystem in its home, Vietnam. IBL’s mission is to be the R&D engine that transforms future technology into practical applications for business and everyday life.
In fulfilling this mission, IBL turns the complexities of blockchain technology into practical solutions through a comprehensive range of IT consultancies, the creation and integration of Apps, and an unyielding commitment to the research and development of cutting-edge blockchain innovations. Named one of the top ten blockchain technology solution providers in 2018 by APAC CIO Outlook, the 200+ employees at IBL aspire to empower Vietnam and all of humanity with powerful blockchain innovations to power the future.