Zanzibar’s government is actively supporting blockchain startups by launching a sandbox for them to experiment with new products and services before going public. In a similar vein, the Vietnamese government has unveiled a national blockchain strategy with the ambitious goal of positioning itself as Asia’s blockchain hub.
Zanzibar’s Blockchain Sandbox Initiative
Zanzibar has introduced a sandbox program to encourage innovation among local blockchain startups and attract talent from neighboring countries.
The Zanzibar government has invited startups working on blockchain solutions and other emerging technologies like AI to participate in the sandbox. Priority will be given to those addressing key challenges in the region, such as financial inclusion, certificate issuance, and identity verification.
Said Seif Said, head of the e-Government Authority of Zanzibar, stated, “The primary goal is to create an enabling environment for the development of cutting-edge technologies, including blockchain and AI. Innovators will have the opportunity to work on pilot projects, collaborate with experts, and receive mentorship from industry leaders, which is crucial.”
Zanzibar, a semi-autonomous group of islands off East Africa, has its own government and president but falls under Tanzania’s sovereignty.
Meanwhile, the Tanzanian government has been advocating for blockchain adoption and recently partnered with the African Blockchain Association to educate citizens about the technology.
Sandboxes play a crucial role in the development of blockchain applications by providing innovators with more flexibility and regulatory clarity as they collaborate with authorities.
Vietnam’s Visionary Blockchain Strategy
Vietnam has emerged as a hotspot for digital assets and ranks in the top three for adoption on the Chainalysis Adoption Index since 2021. Factors like a high unbanked population, lack of faith in the national currency, and zero taxation have contributed to this growth. The government now aims to leverage this adoption for blockchain technology.
Deputy Prime Minister Ho Duc Phoc has approved a new strategy to lay the groundwork for blockchain adoption by 2025 and establish Vietnam as a blockchain hub by 2030. The Ministry of Information and Communications, through the National Electronic Authentication Center (NEAC), is driving this initiative.
The strategy focuses on six key pillars, including enhancing digital infrastructure, implementing growth control mechanisms, and fostering a sustainable digital economy. It also highlights key action areas such as providing legal clarity, nurturing skilled developers, and investing in research and development.
Under the research and development segment, the government plans to promote blockchain research in three national innovation centers and establish ten additional training facilities dedicated to the technology. Blockchain will also be integrated into the academic curriculum of universities, colleges, and research institutions.
The strategy assigns specific tasks to various government agencies and industry bodies, including NEAC and the Vietnam Blockchain Association (VBA).
To Thi Thu Huong, director of the NEAC, stated, “This strategy will position Vietnam as a leader in blockchain application and research in the region, ensuring that we harness and apply blockchain across all social and economic sectors to build a prosperous digital nation.”
The VBA, the only private sector organization involved in implementing the strategy, is committed to advancing the industry through research, practical applications, and maximizing the benefits of blockchain technology.
Establishing a solid legal framework for blockchain and digital assets is crucial for the strategy’s success. Despite its prominent position in digital assets within ASEAN, Vietnam lacks a comprehensive regulatory framework, hindering mainstream adoption and prompting local startups to operate abroad.
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