akaChain is an enterprise blockchain platform developed by FPT Software to support digital transformation across Vietnam’s public and private sectors.
The Ministry of Information and Communications of Vietnam announced in a press release that akaChain has been officially launched.
The akaChain platform was developed by FPT Software, one of the country’s leading IT companies. It is a scalable blockchain protocol designed to advance Vietnam’s digital transformation efforts.
akaChain is among several Vietnam-based digital platforms selected by the national government to support digital transformation initiatives across both public and private sectors.
The Prime Minister of Vietnam recently outlined plans for the country to rank among the world’s top 50 destinations for information and communications technology and to be among the top 35 countries in global innovation by 2030.
Deputy Minister of Information and Communications Nguyen Thang emphasized the importance of digital transformation for local businesses, particularly as they continue to operate amid challenges posed by the coronavirus pandemic.
“We believe FPT Software’s akaChain will help businesses accelerate the process through blockchain-based applications such as eKYC (electronic Know Your Customer), credit scoring, loyalty programs, traceability, and more—capabilities that would be very difficult without these technologies,” said Nguyen Thang.
akaChain is an end-to-end authorized multi-chain network built on Hyperledger Fabric.
The platform was first introduced in 2018 and was envisioned as a pathway to deliver a range of permissioned products and services across industries including banking and finance, supply chain and logistics, insurance, and shopping mall management.
“Blockchain applications have moved beyond cryptocurrencies. Built on Hyperledger Fabric, the akaChain platform helps enable seamless, secure, and transparent connections for all parties involved,” explained Tran Dang Hoa, vice chairman and CEO of FPT Software.
FPT Software reports approximately $463 million in revenue and employs more than 16,000 people. The company specializes in providing services for digital platforms, artificial intelligence, RPA, IoT, cloud technology, and platform modernization, among other areas.
Headquartered in Vietnam, FPT Software has served over 700 clients worldwide.
While akaChain is positioned to lead the country’s digitalization efforts, another blockchain solution provider is preparing to enter Vietnam’s esports market.
KardiaChain recently launched its esports incentive platform, aiming to tap into Vietnam’s esports industry, which is estimated to be worth $2 billion.