VietChain Talents: Building Vietnam’s blockchain talent pipeline

July 19, 2025 at 23:35 PM EDT

On July 18, 2025, the organizer of VietChain Talents 2025 officially announced the 51 projects chosen for the semifinal round. At the same event, 1Matrix - the pioneer of Vietnam blockchain industry - shared the initial outcomes of the Vietnam Blockchain-based Multichain Service Network (VBSN), a strategic multi-chain infrastructure initiative designed to strengthen the blockchain ecosystem in Vietnam.

Co-organized by the Government Cipher Committee, the Vietnam Blockchain Association (VBA), and 1Matrix, the competition received over 300 proposals from 220 teams, with 138 valid submissions. Projects were submitted under four themes: Layer1 (35%), blockchain traceability (32.5%), centralized/decentralized exchanges (21.5%), and blockchain bridges (11%).

Participants include teams from leading institutions such as Techcombank, FPT, OneMount Group, Sky Mavis, MSB, and students from over 30 universities nationwide, including the Academy of Cryptography Techniques, Hanoi University of Science and Technology, Dai Nam University, and FPT University Can Tho. Notable topics cover digital identity integrated with public services, digital banking with real-world asset support, digital signatures, carbon credit trading, and decentralized education.

According to Ms. Nguyen Van Hien, Vice Chairwoman of VBA, the 51 semifinalists were selected based on four key criteria: Practical Value, Innovation, Sustainability & Scalability, and Overall Quality. The semifinal round will take place from July 21 to 31, 2025, with teams delivering live presentations to compete for spots in the final round.

The competition's Advisory council, Judges council, and Professional council feature experts from prestigious organizations such as the Ministry of Science and Technology, Vietnam Institute for Advanced Study in Mathematics (VIASM), Viettel Cyber Security, Kyber Network, Sotatek, Tether, and Boston Consulting Group (BCG), CMC, Viettel IDC, Spores, Amnis, HCMC National University, HCM University of Banking, Hanoi University of Science and Technology...

With a total prize pool of VND 3.5 billion (USD 140,000), the competition offers VND 1 billion to the top Layer1 project. Notably, Tether is introducing a new VND 250 million (USD 10,000) award for the best initiative applying stablecoins for sustainable digital financial solutions, including international mentorship and partnership opportunities.

Mr. Do Van Thuat, Director of Blockchain Solutions and Architecture at 1Matrix, presented early results of the Vietnam Blockchain-based Multichain Service Network (VBSN), reaffirming commitments made at the 6th National Forum on Digital Technology Enterprise Development, attended by General Secretary To Lam. Designed with a five-layer architecture, similar to Europe’s EBSI and China’s BSN, VBSN aims to offer low-cost, easy-to-deploy blockchain infrastructure for use cases such as digital identity, e-invoicing, national data management, asset tokenization, and educational certification.

VBSN currently comprises six Layer1 blockchains, with throughput ranging from 2,000 to 60,000 transactions per second (TPS), and scalable up to 300,000 TPS. According to David Chan of BCG, the network demonstrates strong capabilities in addressing the challenges of security, decentralization, and scalability.

Phan Duc Trung, Chairman of VBA, described this moment as a “golden opportunity” to accelerate the development of Vietnam’s blockchain ecosystem, supported by robust government initiatives under Resolutions 57-NQ/TW and 68-NQ/TW.