The area for reading book and exchange at AIS (Source: VNA)

HCM City (VNA) – All In Station, the first blockchain ecosystem support centre in Vietnam, was officially put into operation on August 18 in Ho Chi Minh City.

Covering an area of 1,000 sq.m in Sala urban area in district 2, AIS has many flexible designed-areas for various purposes such as libraries, team workplaces, and spaces for exchanges and seminars.

Speaking at the launching ceremony, Ha Hoang Linh, Director of AIS, said the fourth industrial revolution in general and the blockchain industry are changing the world, from the mode of production, service supply, production and business to the way of consumption and communications.

This creates new momentum for breakthrough development and a golden opportunity for Vietnam to access and catch up the scientific and technological achievements towards promoting its economic growth, he stressed.

Linh said blockchains and startups have a lot of potential to grow in Vietnam but they need a proper recognition and connection.

AIS aims to connect networks and give policy support the formation of blockchain and startup ecosystems, he noted, adding that AIS's activities were designed to create long-term benefits for its members.

According to Linh, not only providing an ideal research and working space, AIS also helps businesses to associate with experts, investment funds for calling for capital, and relevant organizations and individuals.

AIS is also expected to provide a Startup Portal platform where everyone can find information and evaluations on startup, thus providing objective information for management agencies to build legal frameworks of blockchain, he said.

Nguyen Thy Nga, a strategic member of AIS, who is also Director of the Vietnam Innoventures Fund, said Vietnam has more potential to attract foreign investment for blockchains, but Vietnam has no legal frameworks to develop this industry.

State management agencies are in the process of gathering information related to the blockchain market in the world for policy development while startups are facing many difficulties in connecting with management agencies and getting access to capital sources and markets.

AIS, therefore, will focus on building links among policy-makers, communication  agencies,  investment funds, and experts, thus addressing difficulties facing startups, while creating a data base for building appropriate legal frameworks for the blockchain industry in the future.

Blockchain is defined as the technology for storing and transmitting information and data by blocks linked together and expanded over time.

With its decentralised, transparent and high-security features, blockchain is evaluated as a revolutionary technology that drives change in the future and is applied in many areas such as finance, retail, logistics and telecommunications.-VNA