“Blockchain — The Future Foundation Of Business Management” Event Opens Eyes To Blockchain Application In Vietnam
On Saturday, December 8th, FinanceX along with FSB hosted a blockchain meet-up event at Hanoi’s Imperia Gardens — “Blockchain — The Future Foundation of Business Management”.
The event was attended by representatives from the world of business and technology, blockchain enthusiasts, and business owners keen to hear what the expert panel had to say about the implementation of blockchain in business.
The five person panel included:
- Mr. Nguyen Minh Thao — CEO & Founder of Umbala Network: Successfully achieving a $260,000 investment for Umbala.tv on Shark Tank Vietnam in 2017.
- Mr. Van Dai Giap — CEO & Founder of Nami Corp: Successfully built a financial ecosystem. Nami’s core technology is blockchain and artificial intelligence (AI) with more than 50 thousand users today.
- Ms. Sarah Phung — Co-Founder & CEO of Kingchain Media: marketing solutions company for projects, businesses applying blockchain.
- Mr. Peter Dinh — Co-Founder & CEO of FinanceX: An Information Technology specialist graduating from the prestigious President University in Indonesia. He also completed an MBA in 2015. He currently heads FinanceX, a leading company providing blockchain education, products and services.
- Mr. Tran Duc Chien — Co-Founder & Vice Chairman of FinanceX: He is also the CEO of Navisoft, which provides trading systems for stock exchanges and trade.
FinanceX CEO, Peter Dinh, educated those new to the blockchain concept as he opened up the event with a presentation describing the brief history of blockchain technology, how it works, and what it means for the future of industry. In his presentation, he also provided information on the concerns of businesses around the world about blockchains, the percentage of failed blockchains, whether they are being tested, operating, or still in the ideas stage, blockchain application areas, and countries focusing on blockchain development.
Currently, the application of blockchain in many countries is still extremely difficult with legal restrictions in place. In addition, a lot of misunderstanding exists, for example, more than 90% of people think that "blockchain is bitcoin".
According to CEO of KingChain Media, Sarah Phung, with many years experience working with projects in China, the Chinese government and large companies are planning to develop this technology and apply to many different sectors. Using it as a non-cash payment is entirely feasible. In the future, we will be able to buy products and pay for services through blockchain technology.
Addressing the current legal issues in Vietnam, Umbala CEO, Minh Thao Nguyen encouraged blockchain businesses to keep on growing, and to keep working hard. Once the government has the right policy, companies with a huge head start can approach markets immediately. This happens in many countries around the world with different technologies, not just blockchain.
Nami Corp CEO, Van Dai Giap, who has worked with large corporations such as FPT and Vingroup, is now the head of the blockchain company who serve over 50,000 customers. He said blockchain will aim to solve all three problems of management: internal management, customer management and financial management. Blockchain will make management more transparent, more secure. However, depending on the circumstances, there are appropriate ways to apply, not to abuse it or lead in to counterproductive effects.
Blockchain is a new technology that enables peer-to-peer transactions, in theory, almost eliminating middlemen to optimize costs as well as increase transparency. Van Dai Giap quoted the report of world famous law firm, Mckenzie, with the view that blockchain should not be viewed completely as an intermediate killer. Middlemen always have value as they are the gateway between the supplier and the customer and must help run the business.
Intrigued by the opportunity blockchain offers, many audience members asked the panel questions regarding the application of blockchain in their own businesses and how it can improve them. The volume of questions stretched the event 30 minutes past the scheduled conclusion revealing a keen interest held by attendees.
The importance of such events cannot be overstated. In blockchain, we are dealing with the next revolutionary technology dramatically improving almost every industry process saving time and money, while increasing security and transparency. FinanceX was honored to share the event with the expert speakers and audience members alike and looks forward to hosting the next event. Stay tuned!
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