June 7th, 2019, Ho Chi Minh City, Vietnam – Vietnam Blockchain Corporation (VBC) and Infinity Blockchain Labs (IBL) discussed opportunities in blockchain technology for Vietnamese startups in a series of Smart Startup workshops in the era of technology 4.0. The seminar is within the framework of the fourth exhibition of telecommunications products and services Information Technology & Communications ICTCOMM 2019. ICTCOMM 2019 is organized by the Vietnam Internet Association under the guidance of Ministry of Information and Communications, Ministry of Science and Technology, and Ministry of Industry and Trade from June 6th through June 8th, 2019, in Ho Chi Minh City.
Creating opportunities for young professionals and business development
The workshop brought a panoramic perspective on “Technology Revolution 4.0,” an entrepreneurial opportunity for highly qualified young professionals. Vietnam is positioned to greatly benefit from new innovations with its huge pool of talented young professionals involved in IT infrastructure and 4.0 technologies. In July 2017, the Prime Minister issued Directive No. 16, an effort to strengthen and modernize Vietnam to embrace the 4.0 revolution and benefit from domestic achievements.
The exhibition is considered the largest and most extensive exhibition in Telecommunications, IT and Communication in Vietnam. The primary goal of the exhibition is to create opportunities for domestic and foreign ICT enterprises to introduce and promote products and services while finding potential customers and investors.
The future of supply chain traceability, Agidential
At the exhibition, Mr. Do Van Long, Vice president of Vietnam Blockchain Chapter, director of VBC, and Regional Chief Strategy Director of IBL, discussed the potential for blockchain based technology in traceability solution of agricultural products on the supply chain called “Agridential.” “Agridential.” “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.
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.
Delivering Agridential in Vietnam
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.
A bright future for blockchain innovations in Vietnam
The future of blockchain innovation looks bright in Vietnam. With Agridential, Mr. Long conveyed the enormous potential of blockchain’s future. This is also an incredible opportunity for the diverse landscape of Vietnamese startups. In addition to blockchain’s potential, the Vietnamese government has shown its willingness to support 4.0 technology innovation with a series of programs, supportive projects, and entrepreneurship competitions. With such conditions, companies willing to embrace the future of innovation will have an advantage in business development.
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
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.
Vietnam Blockchain Corporation – VBC
Address: 5th Floor, Flemington Building, 182 Le Dai Hanh, Ward 15, District 11, TP. HCM
Hotline: (+84) 0377 887 403
Representative: Mr. Do Van Long
Director – Vietnam Blockchain Corporation
Regional Chief Strategy Officer – Infinity Blockchain Labs