Blockchain Technology Important in Developing Smart City: Trần Vĩnh Tuyến

Vietnam’s HCM City (Ho Chi Minh City) has plans of building regulatory policies and framework integrated with the technology of blockchain to reduce the possible risks in creating a smart city, expressed city’s top official. Trần Vĩnh Tuyến who serves as the People’s Committee Vice-Chairman in the city, revealed that the city would prioritize projects, which apply technology and science, particularly the usage of AI (Artificial Intelligence) in resolving the problems of the city as well as carrying out smart urban development.

The Vice-Chairman was seen expressing these thoughts at the annual conference of the Saigon Hi-tech Park last Friday. The conference witnessed the presence of hundreds of international and local entrepreneurs, researchers, managers, and start-up officials in the blockchain field.

Continuing further, Tuyến said that HCM City would be working with agencies for building a roadmap for blockchain application in the nation. He also disclosed another development that the Ministry of Science and Technology is going to give preference to the blockchain start-ups via their new project titled “Support a National Innovative Start-up Ecosystem by 2025.”

It is vital to note that during this event, High-tech Park’s management board signed an MoU with the HD KING Technology World Co. Ltd. for promoting blockchain and AI to support HCM City in its development plans of a smart city. The incubator centre and CBA Ventures of South Korea have signed an MoU. They will be focusing on the transfer of technology along with HR training in the blockchain space.