Vietnam's Web3-Based Digital Economy

Transcript

guys hello everyone we're going to be here today and yeah I think um I just want to talk a little bit about judicial Economy based on web free so I will talk about what it is how it may look like and why it is important for Vietnam as a whole as a whole economy I just wonder do I get appointed here or to sort of signs or thank you

all right so I try to make it quick and um yeah so I'm from rmit and I've been working blockchain web free for a couple of years yeah let's just pass directly into um so the first thing is that yeah I think probably all of you've heard about web free but here to the weekend again so we are going through a very transformational period where we go from web one web two and then the next step is to be we're free and this web free internet of web free looks more just uh where people have more economic empowerment and ownership over their data as you can see here and I think

major Technologies in the uh here first blockchain and then of course the AI iot Technologies based on the economy here so I think this is the idea of our idea of public contract supplies one right because web free I think many of you have heard about but what about Vietnam if you think let's see let's look at the technology stack for Vietnam what are the technologies that of web 3 digital economy so if you think about

blockchain AI iot virtual Technologies and Cloud then the lessons that we have learned from other countries in Asia that have gone from low income to high or middle income is that they have utilized the golden population period right so if you think about uh utilize their golden population periods to better off New Frontier Technologies and after 20 30 years of this golden population period they were able to train big companies and make Innovation and Technology like Sony Samsung South Korea semiconductor chips TVs and so on

and so forth and if you think about Vietnam's economy how does our golden population look like yeah we're going to have we are right now in the period of the golden population where other workers are we have a lot of a lot of plans to come with us and we don't have this until the 2040s so we still have as an economy 20 years of potentially strong growth and a strong leader force and the question is now okay how can we help Vietnam to go from low credit income to high income right and then the idea is that yeah we

also do need to do something foreign [Music] [Music] really uh yeah I think uh pretty clear that at least in terms of the blockchain Technologies you can see uh Vietnam has been a quite Global Hub I would say for

example errors of nf5 for example for the last couple of weeks if you think about AI iot [Music] in fact I think we are really really lacking behind the world in the areas of the other Technologies it's not really that we have a strong uh AI application Series from database or artificial technology we also do not really apply any place yet so much to our production also virtual Technologies I think in terms of hardware and software development there's actually more parts going on here and also cloud infrastructure

but wait wait but yeah the the province is here object that's what we have learned it's our speculation but it's really really and that's why I'm feeling in this whole digital Tech stack of the digital economy blockchain is really a key driver and if you think about our golden population technology should be back on to create economic value export products to the world I think blockchain is very very potential here as we have shown that we just let get fired them to try also so we have really respectable defined products in the development level and yeah and also overall

blockchain crypto adoption in Vietnam controlled for GPA capital is an you know right so I think very fruitful uh technology for us is the whole economy um if you think about the blockchain how this actually changed our economy it's really like it's here I really quote here Professor Jason pox so if you think about the economy like a computer right it's a computer where based on 100 million brains of people in Vietnam making in foreign how can you think about it it's like uh and they accidentally moved on the blockchain

um it's like we're going from Windows one you know windows 11. and here this is how we can think about this way of operating system and here's a concrete example if you think about traditional industrialization and Manufacturing in Vietnam we invest in pure manufacturing plans we invest in the factories to invest in logistics and Supply chains huge capital excited [Music] a long long time and what are we producing today t-shirts shoes mobile phones and we also started to be more like electricity

right this is the old operating system of the economy if you think about the digital economics for free here we are updating our operating system and in [Music] economy production we don't have to not invest in manufacturing platform but the here is and we replace the manufacturing Plans by the computer right everybody has a computer at home so why is this already you can use this as a manufactured plans and in terms of Rochester City work is still interesting and supply chain where we both applications products on it and then export it to the world and here as you can see an example

of shoes right if you think about Nike Nike's we're producing Nike shoes in Vietnam and what is the problem most of producing that is yeah because the problem here is that Vietnam cannot capture the high value Creation in this program we are just an Outsourcing country so we are really just in heavily been created uh 490 products it's in the research this is the deal right so we're taking a lot of technical Investments to produce nowadays but actually we do not capture the majority of the valuation this is different if we operate our economy on a

different Community operating system we really can produce [Music] I think something like 160 million so the question is now okay why don't we go into the digital economic society and we use all the computers and possibilities that are being demanded globally around the world and Export them right it's a new way to build a new industry and it's a new way to do uh becoming [Music] technology

and let's talk about I think a bit about the volume how much money can we make this right how much we care as a nation in general right how much money is this so here if we look on the left side you see the global market capitalization of across different asset class real estate here 220 trillion dollars we have bonds under 24 trillion and then M2 money supply uh equities roughly around 100 years I'm going to and this is nft s tokens tokenized are sitting around Zoo online today I'm

very very small compared to the other asset classes and if your 50s so take it from now those are not my predictions but those are predictions by Hero Fidelity one of the largest asset manager in the world U.S space and marketplace right a specified investment fund into digital Technologies and what are they predicting yeah Fidelity predicts that digital assets will go somewhere to the 12 trillions in the 2030s and uninvest suggests that it will be 49 today right to take these two as a management the opportunity is in the tense of true electron I just want to talk about the

2014 who knows exactly right and if we think about Vietnam okay if we can capture part of this Market how much it would be so here we think about the this is the Vietnam is something like 300 billion dollars a day and then we have some asset Holdings in Vietnam and gold 15 million equities Market other sales of three million [Music] first one and we see here Vietnam is number one in the world in terms of digital assets production now let's just speak about okay

you're right right we go to the types of trillions of judicial assets and Vietnam can become of the producer the next quarter of these digital assets how much money are they talking about so here I've just calculated um 0.1 percent oh okay just 0.1 it would be up to 49 million and the lower amount is around 12 billion just 0.1 8 development and Export I'm okay let's be more optimistic let's talk about 0.5 I mean it's just 0.5 if we talk about 2.5

percent it would be up to or anything like big amount of money okay so now there's these suitable to this day right let's say we can capture one percent of the digital asset Market produce it to them make it Vietnam export in other countries so here we already talking about 490 billion dollars as a higher amount of the estimation and here 124 million dollars is a low amount and if you compare this to the previous product in the 2030s this is a predicted GDP in the number 2030s [Music]

something like 30 to up to 90 of overall GDP coming from digital asset on top of what are being estimated today right I think this is just oh it's huge the economic activity opportunity for the and the key here is that that uh probably on this side it doesn't mean that we have to work a lot of infrastructure infrastructure is already there human capital is already there so what we need to do just need to create a

world a regulated ecosystem and we create an Integrity fund products and then whatever investors can start to investigate them and I think uh I do think that this is a big source of apis this is a new source of investment this is a big flows of growth and basically empowering because everybody in Vietnam and yeah I think this is a huge opportunity to after my overall idea of my presentation [Applause] [Music]

practical talking about business digital economy and thank you for spending your time here please give him another round of applause guys thank you