November 29, 2017
When people think Vietnam, they might imagine lush tropical jungles, aoi dai, streetside banh mi stalls, water buffalo meandering pristine rice paddies, or old French architecture. They need to start picturing a hotbed for breakthrough technologies like blockchain, Artificial Intelligence (AI), Agritech, Edtech and Medtech. Last week Hanoi hosted TECHFEST to share information and make connections about these exciting technologies that could soon become a key element of the country. Infinity Blockchain Labs (IBL) was there to discuss Vietnam blockchain potentials.
TECHFEST (www.techfest.vn) is one of the largest national annual events for the entire stakeholders in Vietnam’s ecosystem. The event is endorsed by the Ministry of Science and Technology co-organized together with many ministries, agencies and other startup ecosystem builders in Vietnam. More than 2,000 attendees were joined by 120 investors, more than 80 local and international speakers, and 180 startups. The two day event features a series of workshops, panels and networking opportunities. It aimed to inform the public about exciting technology developments and explain ways in which people can take advantage of them. Panel and discussion topics included Internet of Things (IoT) for agriculture, the future of banking, angel investors for tourism companies, and how technology can cooperate with cultural norms. It was also a crucial event for investors to meet startups with the type of great ideas, products and services that can transform the country.
In addition to having a booth to promote the Blockathon (Vietnam’s first blockchain hackathon) and the Vietnam blockchain landscape, IBL was on hand to serve as an important ambassador for Vietnam blockchain potentials. Lynn Hoang, Project Director of Vietnam Blockchain Club powered by IBL, served on a panel titled “Use of AI and Blockchain to develop an Angels Network.” She shared the stage with Kendrick Nguyen, Co-founder and CEO of Republic, William Schwartz, CEO of Root Communications, William Klippgen co-founder of Caccoon Capital, Marcus Ellison, Founder, CEO at VentureMark and Moderator Sieng Van Tran. They discussed the ways that startups can receive investment money from Angel Investors (an investor who provides financial backing for small startups or entrepreneurs) with the help of blockchain and Artificial Intelligence (AI).
William Klippgen William Schwartz, Lynn Hoang, Kendrick Nguyen and Sieng Van Tran
AI has expansive potential when it comes to meeting the needs of small companies and their investors. For investors, it allows them to more accurately investigate a company’s personnel, financial history and market potentials. Moreover it can help investors and companies find one another and coordinate the best ways to work together and set plans.
Blockchain technology can have a similarly profound effect on the relationship between investor and startup. Because it allows for easier, faster and more cost effective transfer of funds, it makes investing easier than it ever has. Smart contracts further ensure that all parties are accountable, which means fewer costly delays and relationships falling apart. Furthermore, because it promotes easy-access to information and participation, it makes investing from all over the world much easier.
Lynn at the Infinity Blockchain Labs booth
Lynn Hoang spoke about all these topics while underscoring the power of the Vietnam blockchain ecosystem. She explained that Vietnam in particular is not only filled with investment opportunities, but has the blockchain resources to involve the technology in the process. She stressed the many advantages entrepreneurs and investors have when relying on blockchain to lend/borrow money.
As Lynn explained, “we are passionate about the potential of this new, cutting-edge technology and invite you to dive into the depth of blockchain with us to find out what it can do for your businesses!”
Lynn was also there to promote one of IBL’s newest endeavors – Vietnam Blockchain Club. The organization, developed as part of IBL’s Asian Blockchain Education Lab, connects Vietnam’s business leaders, educators, policy-makers, regulators, tech entrepreneurs, and for and not for profit organizations to foster knowledge sharing, testing, and development of impactful blockchain applications. It educates through workshops, meetups, events and tutorials. It also consults for best blockchain adoption strategies and helps to create the space and understanding for collaborations to form. The club’s official launch will occur next month – stay tuned for more details!
TECHFEST was one of dozens speaking engagements the blockchain R&D company has attended this year. As the country’s leading experts on the technology, it aims to share a passion for blockchain and educate outsiders as to its power. IBL hopes that when more people across industries learn about blockchain, they will be eager to adopt it. Through speaking engagements and the forthcoming Vietnam Blockchain Club activities, IBL is expanding the Vietnam blockchain community and striving towards a future where the country is recognized as a global hub for blockchain use and development.
You can learn more about Infinity Blockchain Labs and stay current with our activities by visiting our website and social media accounts below:
LinkedIn: Infinity Blockchain Labs
Contact: Nicole Nguyen PR@blockchainlabs.asia
keywords: blockchain vietnam, vietnam blockchain