The Vietnam Blockchain Association and Binance, the world's biggest cryptocurrency exchange in terms of trading volume, have officially announced their cooperation in the research/application of blockchain technology and human resource training in the country.

The partnership will promote the development of blockchain technology in Vietnam and expand interests around the world, allowing local crypto firms to strike partnership deals on a global scale, Vietnam Blockchain Association said in a statement Monday.

A Chainalysis survey ranked Vietnam first in digital asset adoption in 2020. Ngo Duc Thang, the director of the government cipher committee, believes that blockchain is a key feature of the Fourth Industrial Revolution.

“In the coming time, the government will continue to facilitate, encourage and promote early businesses to proactively accelerate the digital transformation process in which blockchain technology is the mainstay. It is expected that by 2030, blockchain will create 40 million jobs, 10% – 20% of the global economic infrastructure will run on Blockchain technology systems,” Thang said.

Binance CEO Changpeng Zhao said that the exchange "will always comply with Vietnamese laws and put users in focus."

“We believe that this is one of the proper steps, following the direction of the Vietnamese government towards a digital government, a digital economy, bringing sustainable growth values for a prosperous Vietnam,” added Thang.

The two will also aim to attract investors into Vietnam along with international resources. Educating people on cryptocurrencies and blockchain is another important aspect of the cooperation deal.

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