Vietnam Blockchain Market 2030: Growth Forecast with Size, Share

Posted 2025-11-19 07:13:53

According to TechSci Research report, “Vietnam Blockchain Market Outlook– By Region, Competition, Opportunities and Forecast 2030, Vietnam Blockchain Market was valued at USD 350 Million in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 17.4%. This transformative phase is underpinned by progressive government policies, burgeoning startup ecosystems, growing enterprise adoption, and strategic regional advantages.

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Industry Key Highlights

Vietnam’s blockchain market is currently driven by a strong mix of government support, vibrant startup activity, and increasing digital transformation initiatives.
The private blockchain segment leads the market, favored for secure, permissioned networks suited to enterprises and government entities concerned with confidentiality and compliance.
Public sector applications such as digital identity verification, land registry, and public procurement increasingly utilize blockchain to ensure transparency and security.
Regional growth is spearheaded by Central Vietnam, with smart city initiatives in Da Nang and Hue cultivating an environment conducive to technological innovation and blockchain adoption.
Key industry players include IBM Corporation, Microsoft Corporation, Ripple Labs Inc., Consensys Software Inc., Bitfury Group Limited, Chainalysis Inc., Digital Asset Holdings, Blockstream Corporation Inc., Stellar Development Foundation, and Circle Internet Financial.
The market encompasses various blockchain components such as platforms and services, providers across application, middleware, and infrastructure, and spans private, public, and hybrid blockchain types.
Applications cover broad sectors: transportation and logistics, food and agriculture, manufacturing, energy and utilities, healthcare, media and entertainment, banking and financial services, IT and telecom, among others.

Key Market Drivers

Government Support and Strategic Digital Transformation

The Vietnamese government has positioned blockchain technology as a cornerstone of its digital transformation agenda, eager to leverage its capabilities to innovate governance, improve transparency, and optimize efficiency. This vision is enacted through supportive policies, regulatory frameworks offering clarity to blockchain ventures, allocation of resources for R&D, and fostering an innovation-driven culture via government-backed accelerators and incubators. The government’s proactive stance has stimulated both domestic and foreign investments, propelling the market forward.

Enterprise Demand for Secure and Customized Solutions

Enterprises, particularly within finance, healthcare, and supply chain management, require controlled blockchain environments that safeguard sensitive data and assure regulatory compliance. Private blockchains serve these needs by restricting participation to authorized users and allowing customization to fit specific operational requirements. Their strength lies in delivering faster processing speeds and scalable solutions aligned with business-critical applications. As such, enterprise adoption is a significant growth driver.

Emerging Startup Ecosystem and Innovation Culture

Vietnam’s rapidly expanding technology startup ecosystem fosters vibrant entrepreneurship and experimentation in blockchain. Local startups focused on blockchain technology benefit from supportive networks and opportunities for knowledge sharing fostered by government initiatives and academic institutions, particularly in the Central Vietnam region.

Increasing Sectoral Adoption Across Public and Private Enterprises

Blockchain’s ability to enhance transparency and security has led to diverse applications beyond finance into public services like digital identity, land registries, and procurement. Coupled with growing collaborations between Vietnamese firms and global blockchain technology leaders, this breadth of adoption extends the market's reach and depth.

Emerging Trends

Expansion of Private and Permissioned Blockchains

Private blockchains continue to dominate due to their adaptability to enterprise workflows, ability to ensure data privacy, and superior transaction efficiency. These features make them indispensable for sectors demanding high confidentiality and operational control.

Regional Growth in Central Vietnam Technology Hubs

Central Vietnam, encompassing cities like Da Nang and Hue, leverages its strategic location, connectivity, and smart city projects to cultivate a blockchain innovation ecosystem. The affordability and quality of life, combined with focused investments in education and infrastructure, attract startups and foster technological advancements in blockchain.

Skill Development and Blockchain Education

Education is central to Vietnam's blockchain growth, with universities and technical schools offering specialized courses, training workshops, and hackathons tailored to blockchain technology. This focus on talent development ensures a skilled workforce to sustain the expanding blockchain industry.

Global Collaboration and Technology Transfer

Collaboration with global blockchain technology providers enables Vietnam to tap into advanced technology, industry best practices, and international markets. This exchange accelerates local innovation and increases competitive advantage.

Blockchain-as-a-Service (BaaS) and Infrastructure Evolution

Providers increasingly offer BaaS models, allowing companies to utilize blockchain platforms through cloud services without heavy upfront investment. The evolving middleware and application layers provide integrated, scalable, and secure solutions catering to varied business needs.

Competitive Analysis

Vietnam's blockchain industry comprises a mix of multinational technology corporations and dynamic local startups, converging to build a competitive and innovative ecosystem.

Key market players in the Vietnam Blockchain market are:-

IBM Corporation
Microsoft Corporation
Ripple Labs Inc.
Consensys Software Inc.
Bitfury Group Limited
Chainalysis Inc.
Digital Asset Holdings, LLC
Blockstream Corporation Inc.
Stellar Development Foundation
Circle Internet Financial, LLC

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Future Outlook

The outlook for Vietnam’s blockchain market is overwhelmingly positive, with anticipated double-digit growth and expanding applications. Continued government encouragement and infrastructural advancements will elevate blockchain integration deeper into both public services and private enterprise operations.

Predicted developments include:

Expansion of blockchain usage in emerging sectors such as agriculture, energy, and media driven by technological advances.
Greater alignment of regulatory frameworks promoting innovation while ensuring legal security.
Growth of hybrid blockchain platforms combining public decentralization with private security.
Increased blockchain adoption in regional supply chains improving transparency and efficiency.
Strengthened educational ecosystems and talent pipelines sustaining long-term innovation.
Enhanced collaborations across local and international entities accelerating ecosystem maturity.