On January 10, in Da Nang, Duy Tan University coordinated with technology and finance experts to organize a workshop "Blockchain: From technology platforms to applications in digital finance". The event takes place as Da Nang is striving to shape itself as the digital finance center of the country through a testing mechanism (sandbox).
At the conference, experts from leading units such as AlphaTrue, Dragon Lab, Tether Group and ChainTracer project provided a panoramic view of the digital transformation trend in the financial sector.
Mr. Tran Huyen Dinh - Chairman of the ChainTracer project - emphasized that although digital assets such as Bitcoin, Ethereum or Stablecoin (USDT) are not yet considered legal payment methods in Vietnam, the research and application of Blockchain technology is being encouraged in the new legal framework.
According to Mr. Dinh, the risk for individuals participating in digital asset transactions today is very high if they do not have solid legal knowledge. Peer-to-peer transactions (P2P) or through unidentified wallets can cause users to unintentionally get involved in money laundering or appropriation of assets, leading to account freezes or criminal prosecution.
Businesses and users need to strictly comply with regulations on customer identification (KYC), anti-money laundering (AML) and transaction inspection (KYT). All activities must be within the framework of Law No. 136/2024/QH15 on controlled testing mechanisms," Mr. Dinh noted.
According to the direction of Da Nang City People's Committee, the Department of Science and Technology has been assigned to be the focal point for receiving, appraising and licensing businesses with sufficient capacity to test Fintech and Blockchain solutions.
The workshop also introduced the sandbox model of Da Nang City. The implementation of the sandbox mechanism not only helps Da Nang become the first locality in Vietnam to "legalize" the testing of digital assets in a controlled environment, but also helps the State closely monitor, protect users' rights and prevent financial instability.
At the seminar, students of the Information Technology, Economics and Finance - Banking majors of Duy Tan University had the opportunity to practice using digital assets directly on the Basal platform. This is a sandbox environment licensed to operate at Software Park No. 1 (Da Nang), allowing users to experience digital financial applications in the real world safely and legally.
