Blockchain Vietnam - the greater the opportunity, the higher the risk

According to the speaker of Leader Talks, Vietnam has thousands of blockchain projects

In the Leader Talks held on the morning of May 10, Ms. Lynn Hoang, Head of Binance Southeast Asia, said that Vietnam continues to be a bright spot on the world map, standing in the top 10 of Binance's markets on the world map. multiple product lines. Many projects built by Vietnamese people have become global icons in a number of fields. In addition to well-known products in the international market, Vietnamese engineers continue to build many new projects to form a rich ecosystem with many derivative products, many millions of dollars from investment funds. International investment continues to flow into the Vietnamese blockchain market.

However, besides the optimistic signals, the market also witnessed many risks, even bad news. According to her, the market is entering a stage of purification, projects that are not competitive enough will gradually disappear from the market.

"This is the 'turbidity' phase of the market, there will be both bad news and good news coming together, we should prepare psychologically, should not set too many expectations. Any market also have to go through these kinds of adjustments, not just crypto or blockchain,” said Binance Southeast Asia Director.

Meanwhile, Nguyen Viet Dung, CTO Krystal of Kyber Group, said that in technology, fraud is not uncommon, even with old technology. One common feature, scams are often aimed at new users, not too tech-savvy. Blockchain is a new technology, many people involved in this field actually still do not understand what it is, how it works. Most projects are still young, so many parties take advantage of that to benefit themselves and their projects.

"In addition, with decentralization, it will be more difficult to make policies and regulations to protect blockchain users than other markets. This is also the reason that we see many scams in this market." Mr. Dung said.

However, Ms. Lynn Hoang affirmed that fraud is not a problem of the Vietnamese market alone. "The proof is that large investment funds in the world continue to pour millions of dollars into the Vietnamese market.
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