Which future fields strengthened by Blockchain? - British University Vietnam (BUV) - The first QS 5-star university in Vietnam
Which future fields strengthened by Blockchain?
BUV Daily

Which future fields strengthened by Blockchain?

Mar 26, 2021

Which future fields strengthened by Blockchain? 09:27:28

A Seminar was held on future trends in blockchain technology application with the participation of industry-leading experts, exclusively for BUV’s MBA students.

The recently held seminar in Hanoi provided participants with a comprehensive yet accessible insight on the topic of “Blockchain future trends and its application in business”. BUV’s MBA students had the opportunity to discuss their interest on the matter with international and Vietnamese blockchain experts.

A billion-dollar market

Blockchain technology allows data to be encrypted and securely shared to any users within a decentralised network, eliminating the need for traditional third parties and middlemen to verify the information. With benefits such as data transparency, higher security, and lower costs, blockchain technology has become a phenomenon and is being utilised in an increasing number of industries.

Addressing the potential of blockchain, Dr. Sam Goundar – Senior Lecturer at BUV and author of the book “Blockchain Technologies, Applications And Cryptocurrencies: Current Practice And Future Trends” – cited that the World Economy Forum expects the global blockchain market size to grow from $US242 million in 2016 to $US7.684 billion in 2022, with a Compound Annual Growth Rate of 79.69%, as well as contributing up to 10% (around $US100 trillion) to the global GDP in 2025.

Dr. Sam Goundar, Senior Lecturer at BUV, sharing knowledge on practical applications of blockchain.

According to Dr. Goundar, one of the most common misconceptions many people have is that blockchain and cryptocurrency are the same. In reality, cryptocurrency only represents one of blockchain’s many applications. Some of these include real estate management, supply chain management, money transfer, electronic ID verification, product origin tracing in agriculture, e-government, to name a few.

“Let us look at the Covid-19 pandemic, for instance. The global supply chain was severely disrupted due to its heavy reliance on human involvement. In situations like this, the use of blockchain Smart Contracts to automatically execute and enforce the terms of agreement between parties while guaranteeing transparency, reliability, and security, would be an effective solution”, said Dr. Goundar.

Blockchain outlook in Vietnam

Referring to the potential of blockchain in Vietnam, Mr Do Van Long – CEO of Vietnam Blockchain Corporation – stated that the time is ripe to advance the research, development, and application of blockchain technology.

“In the next 5 years, there will be around 20 billion digital devices connected to each other. This will be a test for the IT industry and database systems, challenging them to find a new technology to help us connect and share data faster, more reliable, and more secure, to which blockchain might very well be one of the solutions”, Mr Long commented.

Mr Do Van Long, CEO of Vietnam Blockchain Corporation.

The CEO also forecasted strong blockchain application in several industries in the coming years. Noticeably within the Finance Industry, in which the use of blockchain platforms to facilitate transactions have proven to be a fast, accurate, and reliable method.

In the field of Public Health, Mr Long shared that the Vietnam Government is currently researching and experimenting blockchain for the development of its “Covid Passports” – in which a person’s Covid testing results and other related information will be verified and store in a blockchain.

Speakers of the seminar.

Regarding agriculture, the blockchain expert noted that the potential could lie in product origin tracing using Blockchain QR Codes to ensure transparency and product quality. This is especially important since Vietnam has been participating in Free Trade Agreements with strict requirements over product origin. In addition, the Vietnamese Prime Minister has approved, in the previous year, a proposal to have at least 30% of all businesses in Vietnam implementing origin tracing methods on their available products by 2025.

According to Mr Long, Vietnam successfully exported its first batch of mango, weighing 8 tons, to the US in 2019. To comply with international product origin and quality requirements, each mango was marked with an identification stamp containing a Blockchain QR Code, allowing consumers to trace the mango’s origin from growth to harvest and distribution. This was done with the help of the Vietnam Blockchain Corporation.

Connecting the blockchain community

In the view of the Vietnam Blockchain Corporation’s CEO, one of the challenges for blockchain development in Vietnam comes from the people’s awareness. Blockchain technology is often morphed into cryptocurrency, leading many people to fall for pyramid schemes. In addition, rules and regulations have been unable to keep up with the rapid development of this new technology. This is an issue that every government in the world is facing.

Specialised seminar for BUV’s MBA student on blockchain.

“I want to build a community of reputable experts in the field so that we can share our knowledge and implement blockchain in a transparent and constructive manner”, Mr Long said.

Through the objective of “In-depth business acceleration for startup innovation and creation” within the “Support Innovative Startup Ecosystem in Vietnam Until 2025” initiative (National Program 844) by the Ministry of Science and Technology, Mr Long stated that blockchain can become widespread within the start-up community and can encourage new businesses to apply the technology in their operations.

Drawing from his experience in deploying many blockchain training projects for universities and businesses, the Vietnam Blockchain Corporation CEO believed that educating and training young people on new technological developments is the right thing to do.

“By organising this specialised and exclusive blockchain seminar for their students, BUV continues to prove itself as an adaptive and progressive education institution. The internet can provide you with vast information about blockchain, but it could also easily lead you astray. This seminar here today has provided access to a concentrated pool of knowledge and key terms, enabling you to understand blockchain better and quicker, helping you realise its value and practical applications to stay ahead in the future”, Mr Long concluded.

BUV pioneers educational innovation in the age of AIRead more
BUV awards multiple 100% scholarships to excellent students nation-wide
BUV Daily

Apr 10, 2024

BUV awards multiple 100% scholarships to excellent students nation-wide

British University Vietnam (BUV) organised a ceremony to award numerous prestigious scholarships to talented students from various provinces across the country. The event highlights outstanding scholarship students who have demonstrated courage and determination in pursuing their dreams. The Mission of Nurturing Exceptional Young Generations In 2024, the British University Vietnam (BUV) announced the awarding of […]

BUV collaborates with University of Stirling on AI Assessment Scale
BUV Daily

Apr 09, 2024

BUV collaborates with University of Stirling on AI Assessment Scale

BUV recently participated in a knowledge exchange session with the University of Stirling, Scotland, focusing on the integration of AI in teaching, assessment, and research. Dr. Mike Perkins, Head of the Centre for Research and Innovation (CRI) at BUV, led the session, discussing BUV’s work on the AI Assessment Scale, a framework designed to help […]

BUV pioneers educational innovation in the age of AI
BUV Daily

Mar 29, 2024

BUV pioneers educational innovation in the age of AI

From allowing students to utilize AI (Artificial Intelligence) in their learning and assessments to publishing several scientific studies and training school leaders and officials in Hanoi on AI applications in teaching, British University Vietnam (BUV) has been at the forefront of enhancing the role of AI in educational innovation.  Generative AI (GenAI) technology is becoming […]

BUV Launches Its New School of Pathways, English & Lifelong Learning (SPELL) – A Bridge Between High School, University and Lifelong Learning
BUV Daily

Mar 28, 2024

BUV Launches Its New School of Pathways, English & Lifelong Learning (SPELL) – A Bridge Between High School, University and Lifelong Learning

Recently, BUV officially launched the new academic school SPELL, in the presence of the University Council, BUV Leadership, and faculty and staff members. The School of Pathways, English & Lifelong Learning (SPELL) represents the latest academic venture at BUV, aimed at delivering pathway programs (including International Foundation Programme, UK Pathway Programme, and UniPath), English language […]

Alumna Le Thanh Mai: Understanding comes from connection
BUV Daily

Mar 14, 2024

Alumna Le Thanh Mai: Understanding comes from connection

As a former student of the International Business Management class of 2014, Ms. Le Thanh Mai has embarked on a journey that has seen her evolve from a emotionally rich individual to a distinctive leader who leads from the heart. Let’s delve into Ms. Le Thanh Mai’s story and uncover her unique approach to community […]

Alumnus Doan Van Tuan: Mindset is a valuable asset
BUV Daily

Mar 13, 2024

Alumnus Doan Van Tuan: Mindset is a valuable asset

Ten years after graduating, former International Business Management student Doan Van Tuan has become one of the most prominent figures in the investment community in Vietnam. Currently, Mr. Tuan is the Investment Director of Nexttech Group and the Managing Director of Next100 Ventures fund, responsible for investment and investment management for the group in Vietnam […]

Alumnus Dang Viet Anh: Knowledge and experience always go together
BUV Daily

Mar 12, 2024

Alumnus Dang Viet Anh: Knowledge and experience always go together

In a conversation with BUV, Dang Viet Anh, a former International Business Management student who graduated in 2014, shared his memorable experiences and lessons learned during his 10-year journey in operations management. Currently working as a Senior Supervisor at Esoft Vietnam, a Danish company providing real estate marketing and media solutions for the US, Australian, […]

Conquering BUV’s British Ambassador Scholarship: “Proud to have my efforts acknowledged, but not too proud to stop trying harder”
BUV Daily

Mar 02, 2024

Conquering BUV’s British Ambassador Scholarship: “Proud to have my efforts acknowledged, but not too proud to stop trying harder”

Ngoc Diep, a young talent from the British University Vietnam, has shared her emotional journey to become the British Ambassador Scholarship Winner at BUV. Having been drawn to the arts from a young age, Diep’s journey was further fueled by her elder sister, who inspired and encouraged her to stay committed to her passion for […]

From nearly quitting school to winning a full BUV scholarship: Nguyen Nhu Huyen’s extraordinary journey
BUV Daily

Mar 01, 2024

From nearly quitting school to winning a full BUV scholarship: Nguyen Nhu Huyen’s extraordinary journey

Despite limited English proficiency, Nguyen Nhu Huyen still captivated the admissions board with a sincere and humble story of personal transformation, overcoming adversity, and achieving success as the Lion’s Heart Scholarship Winner in 2022. Currently a second-year student majoring in Marketing Management at BUV, Huyen emerged as the standout Winner of the Lion’s Heart Scholarship—an […]

BUV team chosen for UK Association of National Teaching Fellows (ANTF) project
BUV Daily

Feb 29, 2024

BUV team chosen for UK Association of National Teaching Fellows (ANTF) project

A BUV team, including Dr. Mike Perkins, Associate Professor Jason MacVaugh, and student author Nguyen Vu Viet Anh, will be working on a UK Association of National Teaching Fellows (ANTF) funded project led by Dr. Mary Davis, Academic Integrity Lead at Oxford Brookes University. This project is designed to explain how BUV expects students to […]

DMCA.com Protection Status