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VIETNAM BLOCKCHAIN SUMMIT RIDING WAVE OF SOUTHEAST ASIA’S CRYPTO BOOM

Henry Smith

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  • The Vietnam Blockchain Summit will take place between 19-20th October, with nearly 20k expected to attend.
  • Crypto players FTX, Binance, Bit.com, and Chainalysis will all be involved.
  • The Summit will focus on unleashing the power of blockchain technology, moving toward mass adoption of crypto, integrating with Web3, and the future of crypto options trading.

The Vietnam Blockchain Summit (VBS) is generating significant attention for its speaker list and landmark status in the Southeast Asian industry.

Running the 19-20th October in Hanoi, the Summit’s organizers say there will be 100+ speakers spread over more than 35 sessions. They expect the near 3,000 in-person attendees to be joined by 15,000 online.

Web3 is expected to dominate the agenda, alongside the future of online trading, with particular attention being given to competing options trading offerings in the region.

Some of crypto’s biggest names will be at this year’s event, including FTX and Bit.com, while Binance and Chainalysis are amongst a number of well-known sponsors.

Hanoi is an up-and-coming location for many US and European firms in this space, but the Summit’s stellar lineup surely reflects the sheer volume and speed of crypto uptake in Southeast Asia.

Techcrunch has reported that more than 600 crypto or blockchain companies now have their HQ in the region, while VC funding for crypto, blockchain, and Web 3 startups is closing in on $1 billion so far this year.

Welcoming regulatory regimes and a stand-off approach to crypto taxation helps to explain this boom, as does the region’s significant ‘unbanked’ community and their turn to DeFi.

Vietnam, the host nation, stands out amongst a hotly contested field.

The country has topped Chainalysis’ crypto adoption ranking for the second year in a row, with this impressive growth being driven by play-to-earn (P2E) blockchain games and remittances.

A stunning 23% of Vietnamese people have played a P2E game, while the use of USD and USDC to fund remittances looks set to snowball into a USD-margin trading revolution.

We spoke to Toya Zhang, Bit.com’s CMO, about the upcoming Summit and what it says about the region’s progress:

What is happening with crypto in Southeast Asia and particularly in Vietnam is truly extraordinary. Adoption is through the roof and there is already an appeal for more innovation, especially in Web3 and in the online trading space. VBS is shining a light on that progress, and we look forward to being a part of the event!’.

Consumer technology demonstrates a historical precedent of Asian and of course Southeast Asian firms overhauling American and European competitors in the advanced manufacturing space.

As Western regulators continue to make hawkish noises about crypto regulation, a gap may well open for Southeast Asian firms to grab more market share in the space, particularly with Web 3’s moment having truly arrived.

As such, it will be surely be worth keeping an eye on VBS to see what’s next for the region and indeed the crypto industry as a whole.

 

 

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