Enterprises cannot develop without a transparent environment
On August 1-2, the GM Vietnam 2025 event - Asia's leading forum on blockchain, digital assets and investment technology officially took place in Hanoi under the sponsorship of the National Cyber Security Association, affirming Vietnam's pioneering role in the development of the regional digital economy.
In his opening speech, Mr. Pham Tien Dung - Vice President of the National Cyber Security Association said that digital space security is a fundamental factor to build a transparent, stable and sustainably developed digital asset market.
According to Mr. Dung, Vietnam is gradually perfecting institutions, policies and legal corridors to create an effective and controlled digital asset market - considering this a pillar of the digital economy. Technology only promotes value when placed in an ecosystem with trust, standards and responsibility.
Therefore, forums like GM Vietnam 2025 are not only a place to introduce technology but also need to become a space for policy dialogue, experience sharing, and digital safety standards.
"If we do not proactively dialogue, criticize and take serious action from today, "digital trust" will only be a slogan. The digital asset market will hardly become a true national competitiveness. Public-private cooperation is an inevitable condition to create a stable, safe and sustainable digital space," Mr. Dung emphasized.
He also said that the Government cannot be alone in shaping institutions and ensuring digital infrastructure; businesses cannot develop without a transparent environment, trust and protection by law; and people can only be truly creative when they feel accompanied, protected and trusted.
Vietnamese investors spend billions of USD on digital assets abroad
Also at the event, Lieutenant General Nguyen Minh Chinh - Permanent Vice President of the National Cyber Security Association said that with a population of more than 100 million people and a high proportion of young people, Vietnam is one of the countries with a strong community participating in the digital asset market both domestically and internationally.
Although the current statistics are not complete, Vietnamese investors have spent billions of USD in the foreign digital asset market - while most of them have not been controlled and legally protected.
In addition to economic momentum, Mr. Chinh warned about three major challenges:
First, cyber attacks on smart contracts, e-wallets, and blockchain bridges have caused billions of dollars in damage globally, in which Vietnamese users have been affected but have not been protected by law.
Second, criminals take advantage of blockchain's decentralization and anonymousness to launder money, illegally raise capital, and issue fraudulentckets.
Third, many technology "shadow" projects are actually multi-level models, luring ignorants, causing financial losses and decreasing social trust.
2025 is also the first time Vietnam has organized National Cyber Security Day on August 6, marking a turning point in awareness and action on protecting digital citizens and digital sovereignty. According to Mr. Chinh, this is a strong message affirming that cybersecurity is an inseparable part of national security in the digital age.
According to Lieutenant General Nguyen Minh Chinh, to develop the Vietnamese blockchain ecosystem safely, healthily and sustainably, it is necessary to focus on 3 strategies.
The first is to design a safe ecosystem from the beginning. Every layer of technology from block infrastructure, smart contracts, wallets and identification systems needs to be integrated with security, encryption and monitoring standards right from the security design stage, need to be a mac dinh component not a solution to the situation after the incident.
Second is to improve the ability to detect early and respond quickly, need to establish a mechanism for warning and sharing inter-sectoral response information among the parties. Each platform has a clear crisis handling process from detection, transparent handling, recovery on that platform, gradually forming proactive defense capacity for the entire digital asset ecosystem.
Third is to ensure compliance with the law on access to development international standards, which must be linked to regulations on money laundering prevention, personal data protection, capital flow control, and at the same time, actively participate in the process of technology standardization and perfecting the legal corridor, creating a foundation for transparent and sustainable development.
The synchronous implementation of the three pillars will help Vietnam both control risks well and effectively take advantage of the breakthrough development opportunities that blockchain and digital assets bring in the coming era and decade.
Blockchain is a breakthrough technology, but if it is not accompanied by risk control, legal compliance and user safety, that breakthrough will become a loophole for high-tech criminals, causing market instability and eroding the trust of society, Lieutenant General Nguyen Minh Chinh pointed out.
