Ho Chi Minh, in Vietnam preparing to build a smart city based on the blockchain

Many countries and cities are looking to adapt their working mechanisms to be in line with future signs and signals in which industrial intelligence and blockchain technology will be strongly present.

Vietnam News reported earlier that Ho Chi Minh City will develop blockchain infrastructure to help transform into smart city.

An official at the annual conference on advanced technology said last Friday that this technology will be used to reduce risks and simplify operations.

At the conference, it was also revealed that the government of Vietnam would encourage the use of blockchain technology.

Mr. Tran Vinh Twain, Chairman of the People's Committee of Ho Chi Minh City, said:

"The Ministry of Science and Technology will prioritize startup companies with a new project called Supporting an Innovative National Ecosystem to Startup by 2025,the city will give top priority to projects that apply science and technology, especially the use of artificial intelligence to solve city problems and smart urban development."

The blockchain can be used in smart cities for communications, energy, transportation and payments.

The Deputy Director of Information and Communications in the city, Mr. Võ Thung Trinh, suggested the following:

"To build a smart city, the city needs blockchain-based solutions to build a digital government. Hence, "Ho Chi Minh City" will start work on the regulations and policies related to the blockchain, for future use.

The "Hi-tech Park" conference held last week witnessed delays in registering the board of directors with "HD King" and "South Korean" CBA Ventures for blockchain solutions.

The companies are expected to use use cases to develop smart cities and train employees.

Acting Chairman and Chairman of Hi-Tech Park, “Lê Bích Loan” was optimistic about financing technology, stating :"The invention of the blockchain made financial transaction systems more efficient, transparent and simpler since online payments can be sent directly from one party to another without going through any intermediary organizations such as financial institutions, commercial banks or central banks."

Blockchain and smart cities are a natural mixture.

Seoul has adopted traffic data management technology from Internet of Things (IoT) sensors, and the University of Nevada has combined these technologies for driverless car communications.

While Dubai Smart Initiative witnessed reliance on blockchain technology in registering companies and on the e-government platform.