Vietnam currently faces a shortage of talents in its Blockchain Technology industry, reports have said.
Vietnamese local media outlet, Vietnamplus, in a recent report said that a lack of human resources in the booming blockchain industry is one of the biggest problems affecting the development of blockchain projects in the country.”
Reports also indicate that the country is only able to meet about 15 to 20 percent of recruitment demand, for an industry that is applied in over 50 sectors of the country’s economy.
Experts opine that this situation has led to increased competition for talents between Blockchain firms, with each struggling to outdo the other.
Quoting a FinTech executive in the country, ‘Vietnamplus’ said that there remains a modest number of engineers who are knowledgeable about the Blockchain industry.
This is aside from the fact that the country has an ample number of programmers who understand the Blockchain industry.
“The scarcity of experienced blockchain programmers affects the product development process and leaves many potential projects unimplemented,” Trinh Ngoc Duc, director of the company which developed the Fight of the Ages game said.
This has led firms to begin sourcing talents from outside the country.
What To Know About Blockchain Technology In Vietnam
Having been described as an excellent market for promoting and applying blockchain technology, Vietnam’s government has expressed keen interest in developing the sector for its benefits.
The country’s government recently announced plans to make not less than 10-20% of its global infrastructure rely ultimately on Blockchain Technology.
Last month, the country’s Blockchain Technology Association cemented a partnership for the development of its nascent Blockchain Technology between it and the leading crypto exchange, Binance.
Vietnam is also among the countries that have shown an acceptance of cryptocurrency.
“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,” Director of the Government Cipher Committee, Mr. Ngo Duc Thang said regarding the partnership.