Vietnam has announced the launch of a new blockchain platform, NDAChain, which will be managed by the Ministry of Public Security and aims to support various sectors.
Features of NDAChain
The NDAChain platform, developed by the National Data Association, is aimed at supporting a wide range of applications, including financial services, logistics, public services, and education.
Technological Foundation of the Platform
NDAChain is a permissioned network utilizing a hybrid model that combines centralized oversight with decentralized features. The platform relies on 49 validator nodes, operated by both state institutions and major private companies like SunGroup, Zalo, and Masan.
The Role of NDAChain in Vietnam's Digital Economy
NDAChain is expected to provide a trusted foundation for the country’s digital economy, helping secure data while reducing fraud and inefficiency. The platform aims to aid Vietnam in modernizing its systems without sacrificing control and oversight.
The launch of NDAChain marks a significant step towards digitizing Vietnam's economy and reflects the country's commitment to improving data management and enhancing security.
