Vietnam Launches a National Blockchain Platform

Vietnam has officially launched a national blockchain platform, designed to serve as a backbone for its expansion digital ecosystem.

On Friday, Vietnam Announced The launch of a state-driven blockchain network, which will verify digital transactions and records in various fields.

The new platform, NDACHAIN, was developed by the National Data Association of the country (NDA) and will be operated by the Ministry of Data Innovation and Exposure Center of Public Security.

The government said that Ndachaain Cyberattack would solve long -standing challenges of centralized data models, including weaknesses, scalability and limited global integration.

Ndachain “important” for local digital economy

Guyen Hui, head of technology at NDA, said that blockchain would be a protective layer for the country’s live data. He said that this would be “important” for his digital society and economy.

The announcement also states that blockchain will offer “decentralized layer of the trust” for national systems, including e-government, finance, healthcare, logistics and education. However, HUY stated that the network is not fully decentralized.

“Vietnam has chosen a hybrid data architecture that mixes centralized and decentralized components,” said Hua.

The NDA stated that the network is a layer -1 permitted blockchain, with 49 public -private verification nodes.

State agencies including NDA and Ministry of Public Safety will operate these nodes. Companies like Sungroup, Zalo, Masan, Misa, Sovico and VNVC will also play a role in achieving the network.

The permitted blockchain is the network blockchain including access control layers. This allows institutions to take some measures to control the matter what the network participants can do. It adds a layer of protection and control, causing blockchain centralized.

These node operators will share transaction records for automation and identity verification modules associated with the national identity systems of Vietnam, a distributed laser for smart contracts.

The platform runs on a proof-of-a-revolution (POA) unanimous protocol, which is extended with zero-knowledge evidences for safety.

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Vietnam adopts a decentralized identity solution

In addition to transaction data, NDACHAIN NDA will also power the NDA a decentralized identification solution applied by NDA.

It will be used to verify the opposition identity during transactions and allow service access and digital contract signing.

The Vietnamese government said that the NDAKEY application would allow users to verify the identity in a few seconds with the aim of preventing scams and digital identity theft.