Vietnam Introduces National Blockchain System: NDAChain
Vietnam has taken a significant step forward in its digital strategy with the launch of NDAChain, a national blockchain platform developed by the National Data Association and powered by the Ministry of Public Security. This new platform is central to Vietnam's digital society and economy, providing a decentralized layer of trust for key national systems.
NDAChain, similar to China's approach, focuses on governmental and infrastructure applications rather than traditional public cryptocurrency markets. It adopts a hybrid architecture for improved data security and global integration, with 49 verification nodes managed by government and tech enterprises such as SunGroup and Zalo.
Circle has also made a move in the blockchain sphere, deploying Native USDC and CCTP V2 on Hyperliquid, a decentralised cross-chain liquidity protocol. This move is expected to enhance the platform's capabilities and liquidity.
Elsewhere, the United States has seen a surge in cryptocurrency ETF filings, with a record 92 filings awaiting the SEC's decision. Meanwhile, BNP Paribas and HSBC have joined the Canton Blockchain Network, and ChainCatcher has partnered with Alibaba Cloud for both blockchain support and Web3 infrastructure.
In the world of cryptocurrencies, predictions of rapid growth in the lending market have been made by Bitwise CEO. Matrixport has also forecasted economic resilience boosting the bitcoin price. Binance Alpha users are also looking forward to the MRLN airdrop, with points starting from September 16, and the MAIGA token launch requiring 200 points on Sep 17.
Interestingly, NDAChain is not directly influencing public cryptocurrencies like Ethereum (ETH) or Bitcoin. However, state-led blockchain projects like NDAChain may influence regulatory frameworks globally. These platforms, due to their closed and permissioned nature, have limited impact on existing crypto markets.
The immediate implications of NDAChain include enhanced e-government and the potential to boost Vietnam's digital ecosystem. As these state-led blockchain projects continue to evolve, their impact on the global digital landscape is expected to be significant.
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