On August 29, the Vietnam Blockchain Festival 2025 was held in Da Nang. At the event, Mr. Phan Duc Trung, Chairman of the Vietnam Blockchain and Digital Assets Association (VBA) and Chairman of 1Matrix, shared the initial results and impact of the Vietnam Blockchain Multi-chain Service Network – VBSN on the public-private services sector.
The Vietnam Blockchain Multi-chain Service Network (VBNS) is a collaboration between VBA and 1Matrix, in line with their commitment to the government at the National Forum on Digital Technology Enterprise Development earlier this year. The network aims to help Vietnam achieve complete sovereignty over technology and data, accelerating digital transformation and the digital economy as per Resolution 57-NQ/TW of the Political Bureau.
To undertake this task, 1Matrix was established in March 2025 with a charter capital of VND 200 billion. Of this, 60% of the shares are held by One Mount Group (part of the ecosystem of billionaire Ho Hung Anh), 10% directly by Mr. Ho Anh Minh (son of billionaire Ho Hung Anh), and 30% by Decom Holdings, owned by Mr. Phan Duc Trung.
Mr. Trung shared that VBSN, advised by Boston Consulting Group (BCG), one of the top three strategic consulting firms worldwide, builds upon the strengths of existing blockchain service networks such as EBSI (European Blockchain Service Infrastructure) and BSN (China Blockchain Service Network). This foundation enables VBSN to ensure global blockchain network integration and optimize cutting-edge technologies, offering flexible and superior solutions for security, scalability, decentralization, and deployment costs.
Mr. Trung elaborated on VBSN’s five-layer architecture, comprising Data Infrastructure, Blockchain Layer 1, Technical Utilities, Business Utilities, and Applications. This design allows for horizontal expansion (multi-chain) for data segregation, independent governance, and enhanced processing power, as well as vertical expansion (by industry/sector) to meet the specific requirements of each ministry, sector, or locality. Notably, VBSN provides comprehensive, low-cost, and easily deployable blockchain solutions, even for organizations lacking specialized technical personnel.
For Da Nang, Mr. Phan Duc Trung proposed the consideration of three potential pilot solutions: Decentralized Identity, BE-invoice (blockchain-based electronic invoicing), and a blockchain-based solution to alleviate bottlenecks and monitor public services.
The blockchain solution for public services will track, record, and evaluate bottlenecks in the process of handling, transferring, and approving digitized documents between administrative units and state management agencies in the city.
“The solution will create an interconnected, transparent, and controlled data layer, enabling accurate analysis of bottlenecks, bottlenecks, or discrepancies in the process. This technology platform is suitable for improving operational efficiency, transparency of internal activities, and enhancing governance capabilities in the digital government model,” shared Mr. Trung.
Additionally, Mr. Phan Duc Trung suggested that Da Nang explore the implementation of global-scale reputable programs like PlanB, organized annually by Tether, to enhance the city’s position on the global blockchain map.
VBSN is included in the List of Strategic Technologies issued under Decision No. 1131/QD-TTg dated June 12, 2025, by the Prime Minister. It is also a topic on the monthly progress watchlist of the Ministry of Science and Technology, with an obligation to report on its implementation and practical application.
According to Mr. Trung, the deployment of VBSN at this juncture is expected to significantly improve the quality of public services in Da Nang, contributing positively to the city’s goal of becoming a center for digital government, smart cities, and an international financial hub in Central Vietnam.
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