1Matrix Joint Stock Company officially launched the Layer 1 Blockchain network “Make in Vietnam” in Hanoi, while kicking off the VietChain Talents 2025 competition with a total prize of 3.5 billion VND. Is this a turning point for Vietnam's blockchain technology? Let's analyze in detail.
1Matrix: Pioneer of “Make in Vietnam” Blockchain
#1Matrix members of the Techcombank ecosystem, One Mount Group, Masterise Group, Techcom Securities, and the Vietnam Blockchain Association (VBA), launched with the mission of building a “Make in Vietnam” Layer 1 Blockchain network. The project was committed at the 6th National Forum on the Development of Vietnam's Digital Technology Enterprises, aiming to help Vietnam master blockchain technology and create a foundation for the digital economy.
Mr. Phan Đức Trung, Chairman of 1Matrix and Chairman of VBA, emphasized: “Mastering blockchain technology not only helps Vietnam apply it to the digital economy and digital society but also strengthens data sovereignty, information security, and elevates international standing.” Mr. Trung, the legal representative of 1Matrix, along with Decom Holdings (holding 30% of the capital) which he founded, has made significant contributions to policy advocacy and the development of the blockchain industry in Vietnam.
The “Make in Vietnam” blockchain network is designed as decentralized digital infrastructure, serving public data, public services, digital finance, and distributed ledger technology (DLT). 1Matrix aims to build a foundational platform with consensus algorithms, network security, and user experience, meeting international standards.
VietChain Talents 2025: The Playground for Talent Search
On the same day, 1Matrix launched the competition “Searching for Blockchain Talents in Vietnam: VietChain Talents 2025” to discover and nurture high-quality human resources for the blockchain industry. The competition is sponsored by the Government Cipher Committee and VBA, receiving support from over 50 entities, including government agencies, technology corporations (Boston Consulting Group, CMC, Viettel Cyber Security), and universities.
Total prize pool of 3.5 billion VND, including:
First prize for the topic Blockchain Layer 1: 1 billion VND.
First prize for 3 topics (Centralized/Decentralized Exchange, Blockchain Traceability, Blockchain Bridge): 500 million VND/prize.
Universities with teams that win first prize: 200 million VND/university.
Colonel, Dr. Hoàng Văn Thức, Director of the Academy of Cryptography Techniques, affirmed: “Young talent is the foundation of the digital nation. VietChain Talents 2025 will help the Vietnamese generation of blockchain engineers grow, competing internationally.” The competition runs from May 6 to June 20, 2025, assessed by a panel of experts from the Ministry of Science and Technology, VBA, and major corporations, ensuring transparency.
Impact on the Crypto Market
This event brings many signals:
Promoting domestic blockchain: 1Matrix can compete with international networks like Solana (146 USD), supporting the DeFi and Web3 ecosystem.
Increasing quality workforce: VietChain Talents 2025 will train engineers, reducing dependence on foreign technology.
Increasing trust: #Vietnam , with 17 million people owning crypto by 2024, could strengthen the position of the top 5 globally in terms of crypto adoption.
Future Prospects
1Matrix lays the foundation for blockchain in Vietnam, but needs a clear legal framework for sustainable development, especially as the digital technology law is expected to be passed in Q2/2025. If successful, Vietnam could lead the region by 2030, as per the Government's goal.
Conclusion: Will Vietnam Lead Blockchain in the Region?
1Matrix launches the Layer 1 Blockchain network “Make in Vietnam,” kicking off VietChain Talents 2025 with a prize pool of 3.5 billion VND, opening opportunities to master technology and develop human resources. Despite its potential, the Vietnamese blockchain industry needs to overcome legal challenges to expand. Investors should closely monitor to anticipate this digital technology trend.
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