Vietnam has announced the launch of its national blockchain platform NDAChain, intended to serve as the backbone for the development of the digital ecosystem in the country.
Launch of NDAChain
On Friday, Vietnam officially announced the launch of the state-run blockchain network NDAChain, which will be used to verify digital transactions and records across various sectors. The platform has been developed by the National Data Association (NDA) and will be operated by the Data Innovation and Exploitation Center of the Ministry of Public Security.
Critical Importance for Digital Economy
Government agencies noted that NDAChain would address long-standing challenges of centralized data models, including cyberattack vulnerabilities and limited scalability. According to Nguyen Huy, head of technology at NDA, the blockchain will be 'critical' for Vietnam's digital society and economy. The platform will offer a 'decentralized layer of trust' for systems including e-government, finance, healthcare, logistics, and education.
Decentralized Identity Solution
In addition to transaction data, NDAChain will manage a decentralized identity solution (NDA DID), allowing verification of counterparty identity during transactions and service access. The NDAKey application will enable users to verify identities in seconds, aiming to prevent scams and digital identity theft.
The launch of NDAChain is a significant step for the development of Vietnam's digital economy, establishing a high level of security and efficiency in data processing.
