Vietnam is stepping up efforts to join other Asian nations such as India, Japan, China and South Korea in exploring distributed ledger technology, also called blockchain technology. The country recently launched its Academy for Blockchain and Artificial Intelligence Innovation (ABAII) with the aim of training a million people in the use of these advanced technologies. The goal of this academy is to “universalize” these emerging technologies – essentially leading to widespread experimentation and adoption of Web3 and Artificial Intelligence (AI).

In the first phase of offering blockchain and AI training sessions, ABAII will collaborate with 30 universities across the country. A total of 100,000 students from these universities will form the first batch for this academy, Vietnam News reported reported

Training sessions, as part of this initiative, will include workshops, an idea generation competition, as well as the University Tour 2024 program (Unitour 2024), among other activities. Through the course of this initiative, Vietnam aims to educate technology students about the potential use cases of blockchain and AI in sectors such as banking data analytics as well as digital economy and finance.

Dao Trung Tan, a veteran of Vietnam’s telecommunications and technology sector, has been appointed head of ABAII, his update on LinkedIn shows. This initiative is not the first pro-blockchain step Vietnam has taken recently. In 2022, the Vietnam Blockchain Association (VBA) was established and charged with the responsibility of researching around blockchain as well as drafting legal guidelines for the Web3 community. Both VBA and ABAII organized a meeting with 500 students – focused on the progress and challenges around AI and blockchain.

The global blockchain market is it is reported will reach a whopping market size of $825.93 billion (roughly Rs. 68,95,330 crore) by 2032. China, India, Japan, and South Korea are also holding blockchain outreach discussions with their respective student populations to get them early on to explore Web3 development as a viable career.

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