2020 is bullish for Vietnam — KardiaChain featured on Jinse.com
We are very thrilled to capture the attention of many major blockchain markets, including China. Below is a translation of an article written about us by a top Chinese blockchain news platform — Jinse: https://m.jinse.com/news/blockchain/623543.html
2020 is bullish for Vietnam
As adoption happens across different industries, blockchain in Vietnam is just taking off. From payment to entertainment, businesses are experimenting and finding new applications of blockchain and tokens.
Multi-billion dollar companies looks into Vietnamese blockchain space
Vietnam’s blockchain industry is bullish despite the global financial crisis. Companies that are worth hundreds million to several billion dollars are adopting blockchain technology. Geleximco, a conglomerate whose assets worth over $2.2bn, has just signed a partnership with Vietnamese rising star, KardiaChain, to research and integrate blockchain into its various businesses such as banking, real estate, construction and agriculture. KardiaChain reportedly won this partnership because of its advanced technology. Earlier this year, LG CNS partnered with KardiaChain to white-label their tech and gain exposure to the Vietnam market. LG CNS has its own blockchain brand named MonaChain, which can be used as a private chain in KardiaChain hybrid blockchain models. The successful blockchain integration in a corporation at this size would trigger mass adoption in many smaller companies.
Token economy for new business models
Vietnam companies and businesses are struggling to compete with big players coming from outside. From private to public sectors, we have seen initiatives in applying blockchain and tokenisation to increase user retention and experience. VTVCab, a national TV channel with 96% Vietnamese household usage, successfully launched new blockchain features in their sport content app — ON Sports. They utilise KardiaChain platform and tokens to provide daily mission rewards, transparent voting and prediction games. Another story is Creatory, a streamers management company with a fan base of 30 millions. Creatory is seeing a drop in revenue due to marketing budget-cutting of brands. Creatory is also partnering with KardiaChain to build its donation/tipping platform in anticipation of a new revenue stream coming from the young audience.
Blockchain for Cashless Society
In 2017, Vietnamese Deputy Prime Minister Vương Đình Huệ signed a policy decision setting out the government’s plans to reduce the volume of cash transactions in the country to less than 10%. In fact, Vietnam’s Tien Phong Bank (TPBank) has successfully experimented the use of blockchain in the local FinTech domain through its collaboration in November 2019 with SBI Ripple Asia to leverage RippleNet global payment network for processing cross-border transactions. In early 2020, a top Vietnam telecom company is also working with KardiaChain to build its new payment channel that allows tens of millions subscribers to make purchases with their mobile balance. Probably this year, blockchain will have many positive impacts on the Vietnam fintech scene.
About KardiaChain
Kardiachain is a public blockchain platform focused on Interoperability and providing hybrid blockchain solutions/infrastructure for enterprises and governments in Vietnam and other countries in South & East Asia. Their Dual Node technology allows cross-chain communications between any public and/or private blockchain regardless of protocol. This provides easy-to-adopt solutions for institutional clients: private chain allows efficiency and privacy while public chain helps to earn customers’ trust via transparency. KAI tokens is the native token in KardiaChain ecosystem. KAI is used in staking, paying transaction fee, deploying smart contracts, paying for cross-chain operations, and all products/services on KardiaChain.
KardiaChain has its first listing today by IEO on Gate.io, at 12:00–14:00 China time.
