HCM City (VNA) – All In Station,the first blockchain ecosystem supportcentre in Vietnam, was officially put into operation on August 18 in Ho ChiMinh City.

Covering an area of 1,000 sq.m in Sala urban area in district 2, AIShas many flexible designed-areas for various purposes such as libraries, teamworkplaces, and spaces for exchanges and seminars.

Speaking at the launching ceremony, Ha Hoang Linh, Director of AIS, said the fourthindustrial revolution in general and the blockchain industry are changing theworld, from the mode of production, service supply, production and business tothe way of consumption and communications.

This creates new momentum for breakthrough development and a golden opportunity for Vietnam to access and catch up the scientific andtechnological achievements towards promoting its economic growth, he stressed.

Linh said blockchains and startups have a lot of potential to grow in Vietnam butthey need a proper recognition and connection.

AIS aims to connect networks and give policysupport the formation of blockchain and startup ecosystems, he noted, addingthat AIS's activities were designed to create long-term benefits for itsmembers.

According to Linh, not only providing an ideal research and working space, AIS alsohelps businesses to associate with experts, investment funds for calling forcapital, and relevant organizations and individuals.

AIS is also expected to provide a Startup Portal platform where everyone canfind information and evaluations on startup, thus providing objectiveinformation for management agencies to build legal frameworks of blockchain, hesaid.

Nguyen Thy Nga, a strategic member of AIS, who is also Director of the Vietnam InnoventuresFund, said Vietnam has more potential to attract foreign investment forblockchains, but Vietnam has no legal frameworks to develop this industry.

State management agencies are in the process of gathering information relatedto the blockchain market in the world for policy development while startups arefacing many difficulties in connecting with management agencies and gettingaccess to capital sources and markets.

AIS, therefore, will focus on building links among policy-makers, communication agencies,  investment funds, and experts, thus addressingdifficulties facing startups, while creating a data base for building appropriatelegal frameworks for the blockchain industry in the future.

Blockchain is defined asthe technology for storing and transmitting information and data by blockslinked together and expanded over time.

With its decentralised, transparent andhigh-security features, blockchain is evaluated as a revolutionary technologythat drives change in the future and is applied in many areas such as finance,retail, logistics and telecommunications.-VNA