< Vietnam Blockchain Industry Report > Successfully Released, Assist the healthy Development of Blockchain Industry
Vietnam
88days ago
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On March 24, < Vietnam Blockchain Industry Report > Press Conference was successfully organized, which was hosted by Blockchain Media in Southeast Asia Beecast and OKIB, co-hosted by Block Technology in China mainland, blocktimes in Taiwan, Coinin in South Korea, BLOCK CAPITAL, talent recruitment platform of blockchain industry Huopin Online, Global Blockchain Alliance, and strategically supported by hundreds of blockchain investment agencies, trading platforms, projects and media.

Chairman of BLOCK GLOBAL, Mr. Shi Yanqiang, CEO of Beecast Andy, Head of OK Blockchain Engineering Academy Global Market Research, Zhao Xuchu, Managing Director of Banrui Capital, Pan Yiying, and Founder of Hong Kong FUBT Exchange, Ren Changyuan, CBO of QuarkChain, Du Ting shared their views on the current development of the industry. The guests expressed their views and provided innovative ideas for the adoption of Blockchain technology. The event was full of practical information and the online viewers said that they had gained a lot.

图片1.png(Chairman of BLOCK GLOBAL, Shi Yanqiang)

First, Mr. Shi Yanqiang, Chairman of BLOCK GLOBAL, welcomed the spectators to participate in this event, and introduced BLOCK GLOBAL. BLOCK GLOBAL covers Block Technology, Block Capital, Huopin Online, Chain International, Youjia Enterprise Service, Coinin, blocktimes and Beecast. In addition, BLOCK GLOBAL has established Global Blockchain Alliance and invested in more than 10 upstream and downstream enterprises of the blockchain, and have basically completed the ecological layout of the blockchain industry and the full layout of the Asian blockchain media.

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(BLOCK GLOBAL Ecosystem )

Since its establishment in March 2018, 【BLOCK GLOBAL】 and its eco-brands have got investment and support from Liu Li, Beechat Fund, Goopal Group, Achain Eco-Fund, Hash Capital, Wang Chuyun, Ledger Capital, Shanggu Capital, Collinstar Capital, Liu Zhe, Lu Jun, Oness Capital, Yuandao Capital, Qidi Chain Network, Xufan Fund, ChainHR and many other well-known investment institutions/individuals. 

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(BLOCK GLOBAL development history)

At the same time, he also introduced the market of South Korea and Southeast Asia, which are hot spots in the blockchain industry.

The trend of IEO in Korean continues since the second half year of 2018. On March 13, 2018, the Korean blockchain media platform Coinin cooperated with several Chinese and Korean organizations to release the "Korea IEO Fundraising Report" and will screen high-quality projects on a global scale, and co-launch with the exchange. If you are interested in Korean IEO, you can contact Coinin CEO Allen.

In Southeast Asia, Beecast began its layout in October 18. Offices and teams have been set up in Thailand, Vietnam, Malaysia and Indonesia of 4 countries, 5 cities . Recently, many domestic friends came to Southeast Asia, and two weeks ago, we got together in Vietnam to talk about the Blockchain industry in Southeast Asia with Bao Ge, Du Jun, Chu Xiahu and others of more than a dozen domestic friends,

图片4.png Many domestic operators have already laid out and landed in Southeast Asia, such as OK, FUBT, Huobi, Citex, Binance, Bibox, Genesis Capital, Benti and so on.  I together with Beecast CEO Andy spent a month visiting all of Vietnam and Indonesia's blockchain companies and operators and wrote [Southeast Asia blockchain Diary]. We will continue to visit markets such as Malaysia and the Philippines at a later stage to prepare and serve in advance for everyone.

During 29-31 in this month, Beecast and FUBT will hold [2019 Blockchain Summit VietNam] in Vietnam, local community owners, the KOL, industry organizations will be present, if you are interested in the Vietnamese market, welcome to join.

April 29-30 BlockGlobal,DConference, and Coinin will host the "2019 blockchain investor summit" in Seoul, South Korea. At present, the NYSE, Morgan, Samsung and more and more traditional finance and large companies go into the blockchain field, traditional capital in the blockchain industry is increasingly important. Therefore, with the theme of "New and Old Investment Dialogue, Blockchain Convergence and Development", the Summit invited many VC institutions, financial institutions, traditional enterprises, well-known blockchain exchanges, tokenfund and so on to gather in Seoul to explore industry trends and cooperation.

Currently Korea Internet giant Kakao,IBM, PricewaterhouseCoopers, Deloitte, the world's second cloud company SAP, US CPA,Draper Fund, one of the world's largest digital currency funds Galaxy Digital Capital Management,Node Capital,EOS VC, Middle East Alphabit, UK Eterna Capital, Taiwan's famous Legislator, Director of the Bahamas Science and Technology Center, Chairman of Korean blockchain science, Advisory member of the Financial Committee, etc., have confirmed their participation, as well as the Dozens of bank / securities / insurance and other financial institution executives in Asia-Pacific region will be involved, with more companies and guests gradually confirming.

Now let me introduce you to the Southeast Asian market: if you miss the Internet, don't miss the blockchain again; if you miss the China and South Korea market, don't miss Southeast Asia again. At the same time, thank you for your support for [BLOCK GLOBAL], dedicated to building the world's leading blockchain technology media group.

Next, BeeCast CEO Andy introduced the Southeast Asian market in detail , and here is an outline for sharing:

 

Sharing Outline  

I [Preface]

II [Overview of Viet Nam]

III [Digital Vietnam]

IV [Vietnam blockchain]

1 Policy

2 upsurge

3. blockchain ecosystem in Vietnam

Regulator

Media and community

Trading platform

ICO platform

Investment incubator

ICO project

4 Beecast Summary

5 Experience of foreign enterprises in Vietnam

6 Beecast Vietnam blockchain Diary

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Beecast CEO Andy said that the incarnation of socialism, the nickname for small China, is the impression that many people have of Vietnam, which is like China 20 years ago. Now a lot of the inefficient economic forms that have been eliminated from China are here, and some low-end manufacturing show in Vietnam, so a lot of made in china clothes signs have been replaced with made in Vietnam. A unique country with a population of 100 million people at an average age of 29 years with the core values of "freedom, independence and happiness", whose unique influence is affecting the world.

In terms of population, Vietnam has a population of 96.46 million in 2018, with an average age of 29, and the demographic dividend has laid a huge consumer foundation for the land in Vietnam. Small loans, stocks and digital currencies have developed rapidly in Vietnam over the past two years because of the low income of Vietnamese, but not low prices, as well as the strong willingness of Vietnamese to consume, and the large number of young people, and the widespread speculative mentality in Vietnam, so in the last two years, small loans, stocks and digital currencies have developed rapidly in Vietnam.

In the labour force. Vietnam's labour force age structure is relatively young, over 15 years of age labor force participation rate reached 76.61%. And per capita wage is lower, average monthly wage is about 200 dollars. Low labor costs attract foreign investors to produce and process bases in Vietnam. Higher-education white-collar workers earn $500 and $600.

Education: 235 colleges and universities across the country, adding about 1.7 million new college students each year.

GDP: In 2018, Vietnam GDP grew 7.08% year on year, the total amount reached 5,535,267 billion viet-namese dong , equivalent to about 242.5 billion US dollars, about 1.6 trillion yuan, slightly lower than half of the GDP in Shanghai. The whole of GDP in Vietnam is about the same as Chengdu.

Stock market: the Vietnamese stock market has regained its upward trend since 2016, breaking its pre-high level and heading towards a bull market in 2017. In 2017, the Ho Chi Minh index rose 48%, ranking first in the world. Currently, the Vietnamese stock market as a whole is not big, even though the Vietnamese stock market has risen sharply, the valuations remain attractive. With PE of 17.5 times at the end of 2017 and 14.7 times of PE in 2018, Vietnam's stock market still has considerable potential for future growth and we are now able to enjoy the dividends of Vietnam's economic development.

Vietnam's urban population accounting for 36% in 2018. 143.3 million mobile phone users, accounting for 148% of the total population. 64 million Internet users, accounting for 66% of the total population. Active social media users reached 62 million people, accounting for 64% of the total population. Mobile social media users reached 58 million.

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Mobile phone penetration reached 97%, of which smartphone penetration reached 72%.

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Whether a country's market is good or not depends not only on the enthusiasm of investors, but also on the government's attitude towards the encryption market.

In 2016, the Vietnamese government planed to introduce a corresponding legal framework for virtual currency and property. The Vietnamese government has begun a comprehensive review of digital currency and plans to eventually create for the country " A comprehensive legal framework for virtual property, digital currency and virtual money ".

In September 2018, there is news that the Vietnamese government is expected to issue digital monetary-related policies and guidelines, and the direction is not clear.

In November 2018, Vietnamese authorities were still taking steps to regulate the cryptocurrency sector. At the same time, the Ministry of Justice has proposed several alternative solutions. Local officials said the ministry would establish an appropriate legal framework to manage digital assets and currencies after the executive power chose the regulatory trends it wanted to follow.

Beecast comments: the Vietnamese authorities do not have a particularly clear official attitude and view of digital currency, and Vietnam is very friendly to encryption transactions relative to the total ban in some countries. Overall, Vietnam's blockchain policy is relatively moderate.

Vietnam's interest in blockchain technology is rising rapidly. In mid-March 2018, more than 2000 people attended the two-day "Vietnam blockchain week" conference in Ho Chi Minh City, the country's first large-scale blockchain conference. Vietnam's interest in blockchain technology is rising rapidly. In mid-March 2018, more than 2000 people attended the two-day "Vietnam blockchain week" conference in Ho Chi Minh City, the country's first large-scale blockchain conference.

Vietnam Blockchain Day, held in December 2018, was attended by nearly 1000 participants from Vietnam, China, Japan, Korea, the United States and other places. Vietnamese programmers have high programming skills, blockchain communities are vibrant, and many start-ups want to explore more blockchain applications, rather than confined to cryptocurrency. In addition, multi-exchange competition is seizing the Vietnamese market.

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Both Huobi and OKEx have access to viet-namese dong fiat-currency, and operators are arranged in Vietnam. Binance has more than 15 % of trading users in Vietnam, and other exchanges also have a large number of users in Vietnam.

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Central Bank of Vietnam, responsible for the research and tracking of blockchain technologies and applications in various financial scenarios, such as digital currency, bond issuance and guarantee letters. Vietnam's leading digital asset regulator provides regulations for digital tokens and regulates digital asset-related activities in all digital currency transactions.

HOSE Ho Chi Minh Stock Exchange and HSE Hanoi Stock Exchange

HOSE is the main board of Vietnam with the relatively large enterprise market value, while HSE is a small and medium-sized enterprise board with a small market value. Instead of being directly involved in the regulation of blockchain and digital currency, the two stock exchanges provide advice on the securitization of blockchain in Vietnam and act as the think tank for digital currency compliance.

Beecast, a team covering Singapore, Bangkok, Hanoi, Ho Chi Minh, Kuala Lumpur and Jakarta, has launched "Blockchain in SEA" - the first online big names interview and the offline interview "Andyview" in Southeast Asia. Beecast has rich resources including 300+ Southeast Asian blockchain investment institutions, exchanges, projects and social media, and provides blockchain and digital currency news in English.

STC, focused on popularizing encryption, blockchain and financial knowledge, is a large blockchain community with 15,600 Facebook users. The management team has a wealth of experience and knowledge, and is particularly good at building and expanding the community. STC is committed to becoming the largest and most reputable blockchain and encryption media in Vietnam.

Founded in 2016, VIC Group was originally a mining community and is currently one of the largest communities of cryptocurrency in Vietnam with 46,000 Facebook users. Its community has an average of tens of thousands of active users and social channels hundreds of thousands of active members. VIC has made achievements in various fields such as mining, trading, ICO and blockchain technology. In addition, VIC is developing its own Dapp wallet VICOIN.

Coin68, a media community with 10,000 Facebook users, handles blockchain and digital currency related news from other blockchain websites around the world and then presents in Vietnamese in the Vietnamese market.

KTS, a digital currency community that numerous Kol manage together, is one of the largest communities in Vietnam with 75,000 Facebook users.

Beecast Comments: There are many communities in Vietnam while rare professional vertical media. The two main information sources are the home page of the major communities and the blockchain information retrieval platform CoinMarketCap. Local news production in Vietnam is rare, and most of the news are excerpted and translated from other foreign websites, which causes the postponement of information.

BitcoinVN is the first bitcoin exchange as well as a large OTC trading platform in Vietnam with 80,000 long-term trading users. Laid out in Vietnam in November 2017, it supports currency transactions and legal currency transactions. It has a variety of legal currency channels including Vietnamese Dong and the number of users in Vietnam accounts for 33%. BitcoinVietnam's investors launched the VBTC exchange in July 2014, which only supports Bitcoin trading, and investors can withdraw cash at thousands of locations in Vietnam.

Beecast Comments: There are rare localized exchanges in Vietnam, most of which are OTC platforms. Exchanges including Binance, Huobi and OKEx are gradually carrying out the layout in Vietnam, and some have opened the legal currency channel without licenses, which may put them at risk. We look forward to the emergence of unicorns on local exchanges.

ICOgens is a platform of BigCoinVietnam, which helps some projects to do ICO public offerings and project ratings. The dozens of projects it served currently have been launched in Vietnam.

BigCoinVietnam is Vietnam's largest blockchain service company focusing on the blockchain industry. It has: BigCoinVietnam, a comprehensive service platform for marketing, cooperation, and incubation; ICOgens, Vietnam's largest ICO platform which has served more than ten projects; Bigcoin Capital, a well-known blockchain investment institution in Vietnam.

Inifinity Blockchain Labs is one of the largest blockchain incubators in Vietnam, which has main business of blockchain education and training, project incubation and investment. Its blockchain media Asia Blockchain Review, wallet Infinity Wallet and Fruitchain have hold many offline activities in Vietnam, Thailand, Malaysia, Japan and other places.

BigCoin Capital, BigCoinVietnam’s well-known blockchain investment institution in Vietnam, with investment cases of ToMochain, Perlin, Blockcloud, etc.

Nexus frontiertech, an AI and big data technology company across the UK and Vietnam, is also investing in blockchain. It has invested in more than ten projects in Vietnam and gained high returns.

Beecast Comments: Vietnam does not have official TokenFund, and the overall local investment is relatively primitive which is affected by the high threshold of traditional investment and Internet investment to a certain extent. Retail investors look for substitute investment, which is the community managers, and the substitute investment look for agencies. Although the amount of investment per person is not high, the total investment is considerable when the investor base is large.

Established in 2016, Kyber network raised 500 million and wanted to create a platform providing decentralized trading functions on the Ethereum agreement under the influence of Vitalik. It also provides the payment API that merchants can handle any token payments. Currently, the project is still in the operational stage, and it often holds Meetup.

ToMochain, Vietnam's largest public chain, integrated smart contract, is the underlying public chain of instant payment verification with almost zero transaction costs. Its tokens have also been listed on many trading platforms.

Beecast Comments: Vietnam's blockchain technology presents a different development trend, and some projects have begun to try to apply.

Judging from the current development of blockchain technology, Vietnam lacks professional talents in blockchain technology, and colleges and universities have insufficient research investment in the field. However, in the development of the underlying technology of the blockchain, Vietnam still has a certain foundation, and the technical projects have been well-known all over the world, such as the TomoChain mentioned above.

Beecast Conclusion: More and more foreign project participants are aware of the Vietnamese market and has gradually developed market plans in Vietnam. The Vietnamese community mainly relies on Facebook (and some is Telegram), and the main functions of the community are project analysis, OTC transactions, Financing to raise funds, etc., and providing four types of services: financing, online promotion, activity hosting, community building. Hanoi projects are superior to the Ho Chi Minh project in terms of size and strength, Hanoi project + Ho Chi Minh community.

China's economic growth is slowing down, and domestic capital will focus on high-growth areas and enjoy the dividends brought by economic development since they are used to enjoying the high economic returns. The gap between high and low return will promote capital flow. Southeast Asia has a large population and high economic growth, and both the blockchain and the Internet will move fast to Southeast Asia.

The development of the blockchain in Vietnam is the epitome of various countries in Southeast Asia. Objectively speaking, whether it is the Internet or the blockchain, the proportion of Southeast Asian participating groups has a very important position in the global market. The absolute net value is relatively weak compared to other regions, but the future opportunities in this place are worthwhile.

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At the same time, Xuchu Zhao, the head of Global Market Research of the OK Blockchain Engineering Institute, shared the Vietnamese blockchain market from his perspective:

Firstly, we look at the global dynamics of the digital currency market from a data perspective. The most straightforward way to do this is to obtain registration data for active users of each exchange. However, this direct approach is obviously unrealistic. We can only do the corresponding approximation through other ways.

After research, we have adopted the following dimensions of data: main data website traffic data, such as Coinmarketcap, Etherscan, etc.; major overseas blockchain media website traffic data such as Coindesk, Cointelegraph, Ccn, etc.; Bitcoin and Ethereum's global node distribution data; OTC trading platforms such as Localbitcoin, etc., and the distribution of transaction volume in more than 20 exchanges in the world.

By assigning different weights to each data, we can finally model the so-called blockchain activity rankings. I simply made a picture showing the top 10 countries in the overall ranking. The 100 points here represent all the above dimensions are concentrated in one country.

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Among the developing countries, China, Russia, Brazil, and Vietnam are very high. We can also prove the prosperity of the Vietnamese market from the data level. When you go to the Vietnamese market, you can stay at a luxury hotel. If you are interested, you can go to some urban and rural areas to go to the streets and feel the social atmosphere of the Vietnamese grassroots society.

Vietnam’s economic development has been very rapid in recent years, but in the end it is still a developing country, and the whole society will have a more comprehensive display at the grassroots level. My personal feeling is that Vietnam is very much like the mainland in the 1990s or the beginning of the 21st century. Everyone can see from Vietnam’s per capita GDP, which is basically equivalent to China’s level of more than a decade ago. Vietnam’s population is relatively young, with an average age of around 30. The country’s beliefs are very close to the mainland, that is, Believe in a Buddha, worship a temple, ask for a sign, but do not make these things too grand like Thailand. The economy is developing rapidly, the population structure is very young, and there are not many restrictions on faith. This is a very typical group characteristic of the social group that I feel in Vietnam.

The combined effect of these three characteristics is that [the whole society is full of enthusiasm and longing for advancement], and the expression that is more familiar to everyone is [follow the money].

Such a social group will have a very open attitude towards new things and new technologies. Especially in Vietnam's domestic capital market and the financial industry is not developed, digital currency is a very good alternative to traditional financial instruments, which can meet the investment and speculation needs of the local population. After all, can there be any slogan that can attract a large group of young people around 30 years old than [change the world while achieving wealth freedom]?

Finally, I will introduce our OK Blockchain Engineering Institute. We belong to the world's leading blockchain group OK Group, and focus on the research and development of blockchain technology for the whole scene application and market development. The institute is working with world-renowned universities and top global research institute to launch a collaborative research project to continuously inject new ideas into the blockchain industry and explore new market development opportunities. We will continue to follow up on the Southeast Asian market to provide decision-making advice for the Group's layout.


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