Vietnam Launches National Blockchain Platform NDAChain

On July 25, Vietnam launched NDAChain, a national blockchain platform designed by the National Data Association, set to underpin various sectors’ digital integrations.

This initiative aims to strengthen Vietnam’s digital infrastructure, focusing on secure data management across sectors, while remaining separate from the public cryptocurrency market.

Vietnam Integrates Blockchain for Digital Ecosystem Growth

NDAChain, developed by the National Data Association and powered by the Ministry of Public Security, adopts a hybrid architecture for improved data security and global integration. Nguyen Huy, Head of Technology, National Data Association, stated, NDAChain will serve as ‘critical’ infrastructure for the digital society and economy, providing a ‘decentralized layer of trust’ for key national systems (Source). The platform provides a decentralized trust layer, with 49 verification nodes managed by government and tech enterprises such as SunGroup and Zalo.

Immediate implications include enhanced e-government and the potential to boost Vietnam’s digital ecosystem. The government views NDAChain as central to its digital strategy, supporting decentralized identity and digital contracts via NDA DID.

No major reactions from public crypto figures or exchanges have emerged. This reflects NDAChain’s non-public, government-driven structure, not directly influencing public cryptocurrencies like Ethereum (ETH) or Bitcoin.

State-Led Initiative Mirrors Global Blockchain Trends

Did you know? Vietnam’s NDAChain follows the trend of state-run blockchain platforms, similarly seen in China’s approach, focusing on governmental and infrastructure applications rather than traditional public cryptocurrency markets.

According to CoinMarketCap, Ethereum (ETH) trades at $3,710.02 with a market cap of $447.84 billion. Its 24-hour volume increased by 8.80% to $47.01 billion, while the price rose 1.73% over the same period, continuing a 60-day trend of 45.01% growth.

Coincu research team indicates that state-led blockchain projects like NDAChain may influence regulatory frameworks globally. However, such platforms have limited impact on existing crypto markets due to their closed and permissioned nature.