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One Mount to invest in building Blockchain Layer 1 network in Vietnam

by | Jan 21, 2025 | Business, International

One Mount Group was one of two organisations assigned by the Ministry of Information and Communications to build the ‘Make-in-Vietnam’ Layer 1 Blockchain network at the sixth National Forum on Developing Vietnam’s Digital Technology Enterprises.

The event was attended by Party General Secretary To Lam and Minister of Information and Communications Nguyen Manh Hung.

The movement shows that Vietnam is undergoing a significant change in empowering private enterprises to lead and master strategic technologies in the nation’s digital transformation journey.

It is considered a strategic step to enable Vietnam to take control of blockchain technology, laying the groundwork for remarkable development in the digital era.

One Mount Group has committed an investment of US$200 to 500 million to develop a Layer 1 blockchain network with key features including high speed, exceptional scalability, optimal security and a consensus mechanism.

This platform is designed to meet the domestic demand for blockchain technology development and enable international connections, acting as a bridge to global public blockchain networks.

It will serve as a core foundation, facilitating operations, exploitation, interaction and interoperability across various types of blockchain networks. It will drive the development of decentralised applications (DApps) across multiple sectors, including finance, healthcare, education and public services.

“The Layer 1 blockchain platform developed by One Mount will serve regulatory agencies and businesses, and provide tangible benefits for Vietnamese people, propelling the nation further in the era of global digitalisation,” One Mount Group’s CEO Nguyen Thi Diu shared.

By 2025, Vietnam is set to establish a robust foundation for blockchain technology, including the creation of a secure and information-safe national blockchain infrastructure. It will also enable interoperability, integration and data sharing across various blockchain networks while supporting state management of blockchain application and development activities.

By 2030, Vietnam aims to expand its national blockchain infrastructure and position itself as a regional and global leader in blockchain research, application and development.

-THE MALAYSIA VOICE

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