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Government green lights blockchain amid digital drive, rolls out FPT solution in Vietnam
- 19 August, 2020 19:48
The Vietnam government has launched an enterprise blockchain platform developed by FPT Software, forming part of a national program for digital transformation.
Under the banner of akaChain, the offering was “hand-picked” by the government to help accelerate digital adoption across both public and private sectors.
The move aligns with plans for Vietnam to become a top 50 country in terms of technology development, and a top 35 national for global innovation, by 2030, according to ambitions unveiled by prime minister Nguyen Xuan Phuc.
“As Covid-19 looms large, it is more important than ever to take business online,” advised Nguyen Thanh Hung, deputy minister of the Ministry of Information and Communications.
“We trust FPT Software’s akaChain will help businesses to quicken the process through blockchain-based applications such as eKYC [electronic Know Your Customer], credit scoring, loyalty programs and traceability, which would be very challenging in the absence of technologies.”
Built from the ground up in 2018, akaChain operates as an end-to-end, permission-based multi-chain network based on the Hyperledger Fabric. The product is primarily deployed at enterprise and SME levels, with Fortune 500 firms also counted as customers.
“From retail and supply chain to financial services, blockchain applications have moved beyond crypto-currencies,” added Tran Dang Hoa, vice president and COO of FPT Software. “Built on Hyperledger Fabric, the akaChain platform helps to enable a frictionless, secure, and transparent connection for all parties involved. That is the top concern of every digital business nowadays.
“FPT Software is also working to develop digital ID solutions based on the akaChain platform, making it much easier and faster to prove identity and validate personal information. The key here is to constantly improve security and transparency.
“We are excited to be part of the national digital transformation program and help the Vietnam government to build early foundations for a digital economy, digital society, and e-government.”