The Viet Nam Blockchain Association (VBA) has announced their four key programmes in 2023 on the occasion of its one-year anniversary of establishment held in HCM City last week.

Phan Duc Trung, VBA’s Standing Vice President, said: “Four action programmes in 2023 include VBA standards, Regtech applications, fundraising support and textbooks. These programmes will concretise the six initial goals set forth by VBA."

Especially, the Chaintracer anti-phishing and SwitchUp business support projects would be given special attention under these programmes. Accordingly, the application of Regulation Technology (Regtech) would be enhanced through the Chaintracer project. This is a blockchain transaction tracing project to promote anti-money laundering (AML) and counter-terrorist financing (CTF) activities.

Regtech are technologies applied to support businesses in legal compliance, which is also one of the six approaches from a FinTech perspective.

“We hope that the RegTech application will achieve two standards including satisfying the international application standard and integrating into the global database environment, especially eKYC,” Trung added.

Hieu Ngo, a member of VBA’s Information Security Committee, said that common forms of scams are rug pull (developer withdraws money from projects), the announcement of fake ICO/IDO/IEO (issuing shares in the form of tokens), or using malicious code to attack the victim.

As a result, Chaintracer will identify and warn users about such attacks. The Chaintracer platform is committed to investor protection by reviewing on-chain transaction activity and referencing them to known scam models to assess whether a project is a scam. This platform will also analyse market behaviour to identify inflation, and provide analysis of ICO, IDO, and IEO projects for investors to rely on to determine if the project is fraudulent or not.

Supporting businesses is also an orientation VBA is interested in 2023. VBA co-operates with business incubators to focus on start-up activities, speeding up capital raising, and cross-border fundraising through blockchain.

At the event, the association also announced the start-up accelerator programme "SwitchUp" focusing on supporting the development of Blockchain/Web3 projects.

Eric Hung Nguyen, a member of the VBA’s Investment Promotion Board, said this is the leading enterprise support platform for blockchain projects, supporting projects from fundraising, product development and completion to community building.

The SwitchUp programme will coordinate with the National University to promote entrepreneurship in the university environment, co-operate with international universities to conduct student exchange, provide training support, and materials in the fundraising process.

After a year of establishment and development, Viet Nam Blockchain Association has gradually affirmed its position as a connecting organisation sharing values through a series of community events and domestic and international cooperation, promoting standards-setting and data security. The event welcomed 300 guests from ministries, businesses, funds and KOL. — VNS