Blockchain Technology & Its Implications to Business

Blockchain Technology & Its Implications to Business


June 14, 2017

Interest and enthusiasm for blockchain has quickly spread throughout Ho Chi Minh City, so no one should be surprised to learn Hanoi has started its own exploration of the technology.  Last week Infinity Blockchain Lab’s Head of Corporate Marketing, Nicole Nguyen, traveled to the capital city to speak at “Blockchain and its business implications” workshop.  The workshop, hosted by the University of Hawaii Executive MBA in Vietnam, Vietnam’s National Payment Corporation NAPAS and JLT – one of the world’s largest insurance providers, aimed to explain the technology’s principles and potentials to interested members of the banking, finance, and insurance communities.

Blockchain Technology & Its Implications to Business
Attendees focus on the emergent technology with open minds

The majority of the audience had little knowledge of the principles behind blockchain, having only heard fleetingly of it through discussions of Bitcoin or Ethereum. They were of course familiar with the attention major companies and institutions inside and outside Vietnam have been giving it, and were therefore intrigued to learn more. Thankfully the workshop had invited experts to explain the basics and share their visions of its future.

Expert Speakers

Blockchain Technology & Its Implications to Business
Dr. Uday Kulkarni introduces blockchain

Dr. Uday Kulkarni, Professor of Information Systems at Arizona State University’s W.P. Carey School of Business, has over 30 years experience teaching and industry experience in database management, business intelligence, and knowledge management. He conducts presentations and executive seminars on Business Intelligence (BI) Strategy and Customer Relationship Management (CRM) for audiences all over the world. While in Hanoi, he assumed his professorial role and explained the fundamentals of blockchain as well as how industries can integrate it into existing infrastructures. After his lecture, attendees not only understand what blockchain is, but why they should look for ways to adopt it.
To articulate first-hand experiences of using the technology Ms. Trần Thị Thanh Mai, Deputy Head of Research & Product Development, National Payment Corporation of Vietnam (NAPAS), the fastest growing credit card growth company, spoke. She offered cautious optimism about blockchain’s ability to fuse with current systems for increased ease, safety and transparency.
Finally, IBL’s Nicole Nguyen gave a speech describing the current blockchain landscape in Vietnam. While motivated, the nascent ecosystem has produced few tangible applications for the technology. IBL has taken a leading role in rapidly expanding the community’s growth development. Stressing the importance of engaged and connected ecosystems, she described the ENIGMA contest (Asia’s first blockchain contest), weekly workshops and partnerships. Motivating communities around dynamic technologies requires the  proactive leadership of experts like IBL, and Nicole’s speech aimed to not only encourage audience members to seek out such groups, but also recognize Vietnam’s growing influence in the field.

Blockchain Technology & Its Implications to Business
Event organizers, speakers and representatives from CitiBank and NATEC pose with smiles after a successful workshop

IBL’s Future Plans in Hanoi

While IBL has spent significant time building communities and connections in their headquarter-city HCMC, they have had fewer opportunities to share their knowledge with people in Hanoi beyond the “Blockchain and its Implication” workshop. But that will soon change. In July a member of IBL will be keynote speaker at Innovatube’s Frontier Summit – Vietnam’s first event to focus on the 4 sectors of smart tech, including AI, IoT, Blockchain and VR/AR with hopes of attracting 500+ Vietnamese and international entrepreneurs, engineers, researchers and top tech companies. Also, and thanks in part to connections made at last week’s workshop, IBL has plans to work closely with regulators and government officials to ease the embrace of blockchain technology and establish compliance standards.
Additionally, Nicole Nguyen’s speech so impressed  Nguyen Thi Le Giang, Startup Ecosystem Official at the National Agency for Technology Entrepreneurship and Commercialization Development (NATEC), that she invited IBL to be a speaker at the upcoming techfest, tentatively schedule for this November.  Nguyen Thi Le Giang explained that Hanoi’s startups are not as technology-fluent as they could be, and she therefore believes IBL has a lot to offer. The event represents the precise type of activity that will allow IBL to spread understanding, excitement and trust for blockchain to individuals, institutions and government departments in Hanoi and throughout the country.
You can learn more about Infinity Blockchain Labs and stay current with our activities by visiting our website and social media accounts below:
Twitter: @infinityblockchainlabs
LinkedIn: Infinity Blockchain Labs
Contact: Nicole Nguyen