By Dr. Kyle Wong, CFA & FRM, President of ABCD
Some of the core members of ABCD recently visited Hanoi and Ho Chi Minh City to explore the Web3 community in this young and rapidly growing country. We are excited to see the robust Web3 community. The quality and value of the blockchain developers are unparalleled. While Hong Kong Web3 development benefits from Government support, ample funding and a growing user base, it is also hindered by a lack of developers. Hong Kong would benefit from the support of the Vietnam ecosystem. We believe the Web3 community in Hong Kong and Vietnam complement each other. Hong Kong can help Vietnam startups raise funds and bring business to them, Vietnam can fill the needs of Hong Kong software development. So ABCD is excited to expand our presence into Vietnam.
Formation of ABCD Vietnam Chapter
ABCD will form a new chapter in Vietnam. We have recruited experienced developers and businesspersons in Vietnam. The goal is to create a bridge between Hong Kong and Vietnam crypto communities, do joint events and share practical experience.
Partnership with Vietnam Blockchain Association
Established in May 2022, Vietnam Blockchain Association is the gathering place for those interested in researching, testing, evaluating, standardizing and encouraging the application of blockchain technology in the country. At the same time, it is the first official organization with a legal entity to represent those who are interested in the blockchain industry in Vietnam. It aims to create an environment for the development of high-quality Blockchain technology human resources in Vietnam. It has successfully run many education and networking events such as Vietnam Blockchain Summit 2022” in Oct 2022 and “Role of Blockchain in Digital Economy development” in Dec 2022.
One of the mission of Vietnam Blockchain Association is to form a strong and long - term connection between Vietnam's blockchain talents and global organizations and communities that suit the values and missions of the Association, contribute to building and developing a partnership with other countries. Indeed this is the same vision of the Association of Blockchain Development. ABCD intends to partner with VBA to promote Web3, blockchain and Metaverse technology in Asia.
According to triple-a.io estimated global crypto ownership rates at an average of 4.2%, with over 420 million crypto users worldwide as of 2023. Out of the 420 millions users, 260 million reside in Asia. In fact Vietnam is one of the top five countries with the highest adoption in the world. We believe that Hong Kong and Vietnam should work together to advance the crypto adoption in Asia. The formation of the ABCD Vietnam chapter and Potential Partnership with Vietnam Blockchain Association are just the beginning. REFERENCES  Cryptocurrency Ownership Data - Cryptocurrency across the world. Retrieved from: https://triple-a.io/crypto-ownership-data/