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Ho Chi Minh City To Develop Blockchain Regulations For Smart Cities

Ho Chi Minh City will develop a blockchain-oriented regulatory framework for the event of sensible cities.

Tran Vinh Tuyen, Vice Chairman of the Ho Chi Minh’s People’s Committee, introduced the information in the course of the sixth annual worldwide convention of Saigon High-Tech Park (SHTP), Viet Nam News stories Nov. 11.

At the identical occasion, the SHTP, an incubator for top tech companies, signed a memorandum of understanding with South Korea’s CBA Ventures to advertise the analysis and software of blockchain know-how.

Le Bich Loan, a senior exec on the Saigon Hi-Tech Park’s board of administration, emphasised that blockchain tech has made monetary transaction programs extra environment friendly, clear and simpler to make use of by way of on-line funds.

Ministry of Science and Technology prioritizes blockchain tech

According to Viet Nam News, the nation’s Ministry of Science and Technology additionally introduced plans to prioritize blockchain-focused startups inside the nationwide program “Supporting the National Innovation Initiative to 2025.”

The program was accredited by the Vietnamese authorities in May 2019 and goals to create favorable situations for enterprise growth. The initiative supplies assist to 2,000 startups, in response to the ministry’s web site.

Smart cities and blockchain

The idea of a sensible metropolis envisions using rising applied sciences comparable to blockchain and synthetic intelligence to enhance the standard of municipal authorities providers and citizen welfare.

As a significant know-how that’s anticipated to enhance the transparency, pace and immutability of information, blockchain has been more and more carried out in sensible metropolis initiatives globally.

China just lately launched a brand new blockchain-based metropolis identification system on Nov. 4. In June 2019, Automotive big China Wanxiang Holding partnered with blockchain-based tech agency PlatOn to develop a sensible metropolis in Hangzhou.

Earlier this 12 months, a undertaking on the University of Nevada, Reno introduced it was creating a brand new blockchain-based autonomous car sensible metropolis undertaking.

Ho Chi Minh City To Develop Blockchain Regulations For Smart Cities

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