Vietnam has become one of the most exciting destinations for the potential use of blockchain technology over the last three years. In getting the most from the benefits of blockchain technology, Vietnam is expected to see more startups and businesses piloting programs and applying blockchain into many industries and sectors such as high-tech agriculture, banks, health, transportation, public services, and more. With an aim to transform Vietnam into a blockchain country and expert hub, Vietnam Blockchain Corporation (VBC) offers state of the art blockchain solutions for various industries.
VBC applies blockchain technology to agriculture to fundamentally improve the ability to manage, monitor, produce, and process agricultural products through the value chain. The company’s Agridential is a blockchain- based traceability solution in compliance to GS1 global standards. “It is the name combined of ‘Agriculture’ and ‘Credential,’ which means we provide a credential solution for Vietnamese Agricultural products,” says Do Van Long, Director of the company. Agridential has been deployed on My Xuong mango product in Dong Thap Province, Vietnam. Each mango has a QR Code identification stamp using GS1 standards in blockchain technology to make the origin and quality of products transparent. Blockchain technology enables consumers to verify the quality of agricultural products while minimizing fraud in the supply chain and improving the reputation and brand value for businesses. Consumers can track and trace all the information of the mangoes, from fertilizing, spraying, packaging, to harvest and distribution. All the information is recorded by individual parties such as gardeners, cooperatives, and distributors to avoid information manipulation from any party. Since all information is recorded using blockchain technology, it is impossible for anyone to delete, modify, or counterfeit. This means the information is immutable.
Besides Agridential, VBC is researching and developing two more projects, “Smart Ballot”and “Self-Sovereign Identity.” VBC’s Smart Ballot is the pioneering voting application that applies blockchain technology to improve traditional voting solutions. Smart Ballot provides a new way of voting that makes the voting process simple, fast, accurate, and free from manipulation. Importantly, the solution features transparency of the voting process that enables individuals to verify the accuracy of the result while ensuring anonymity of the vote.
On the other hand, VBC’s Self-Sovereign Identity solution applies blockchain technology in digital identification to help replace customer identification by manual methods such as face-to-face meetings. With the solution, governments, banks, and financial institutions can save time, money, and human resources by building a transparent, safe, and reliable management system to serve the community. Self-Sovereign Identity is applied to the project “Blockchain solution to address worker right challenges,” in partnership with The Asia Foundation (TAF), HMC clean house services development joint-stock company with support from the Bureau of Democracy, Human Rights and Labor (DRL) under the United States Department of State. Blockchain technology will be applied to protect the rights and interests of workers and magnify the benefits from existing programs and projects to support workers.
Over the years, VBC has associated with ministries, government, and non-governmental organizations in presentation activities, discourse as well as developing pilot projects to apply blockchain technology into practical application. In 2016, VBC kicked off Asia Blockchain Education Labs (ABEL), a project that includes in-depth courses on the blockchain developed and taught by leading professors in Vietnam. ABEL’s goal is to further strengthen blockchain training activities, which will help improve human resources’ expertise in this promising new technology. In partnership with top universities, technology facilities and research institutes all over the country, along with dozens of specialized laboratories. “By keeping the human factor at its core, VBC acts as a trainer and an expert advisor for enterprises through training developers as well as technical advice in the production process, commerce, and services for business.