On May 6, 2025, Vietnamese tech firm 1Matrixofficially unveiled the nation’s first Layer-1 blockchain network designed, built, and operated entirely by Vietnamese engineers. This launch in Hà Nội marks a defining step for Vietnam as it moves towards full ownership of core digital infrastructure. In contrast to most blockchain platforms developed abroad, this new network is homegrown — from consensus algorithms to user interfaces — and aims to support public data systems, digital finance, and government services. At the launch ceremony of 1Matrix (Image: Vietnam Blockchain Association) What is 1Matrix, and Why It Matters 1Matrix is not a typical blockchain startup. It’s a strategic member of an ecosystem that includes Techcombank, One Mount Group, Masterise Group, and Techcom Securities — major players in Vietnam’s finance and tech sectors. The company is also a member of the Vietnam Blockchain Association (VBA) and partners with Boston Consulting Group (BCG). Backed by these institutions, 1Matrix has a long-term vision: to create a national blockchain backbone for Vietnam. The goal is not just to build a blockchain, but to own the underlying technology, from the protocol level to intellectual property. This will allow Vietnam to implement blockchain across government operations, digital identity, finance, logistics, and more. According to Phan Duc Trung, chairman of 1Matrix and head of the Vietnam Blockchain Association, the project aims to ensure data security, technological independence, and a higher global standing for Vietnam in the blockchain space. During the 1Matrix launch ceremony, Mr. Phan Duc Trung delivered a keynote speech, officially kicking off the "Make in Vietnam" Layer-1 blockchain network. (Image: Vietnam Blockchain Association) Blockchain, but for Public Use Unlike many blockchain initiatives centered around speculation or DeFi, 1Matrix has set its sights on national-scale applications. The Layer-1 platform is designed with compliance and interoperability in mind — key features for integration into public sector workflows. The company stated its architecture meets international interoperability standards, meaning it can connect with global systems while staying under local control. This is crucial in a world where data security and digital governance are now tied to national interests. The network aims to support: Government data infrastructure Regulated digital asset issuance Secure and scalable enterprise solutions Strategic Partnerships to Accelerate Growth 1Matrix has aligned with global consulting powerhouse Boston Consulting Group to develop its platform. BCG brings deep experience in working with governments and enterprises on digital transformation, giving the project not only local but also global relevance. Strategic cooperation agreements were signed between 1Matrix, BCG, and the Vietnam Blockchain Association to scale adoption, advise on policy, and support ecosystem development. Investing in Talent: The VietChain Talents 2025 Contest A vital part of this initiative is talent development. 1Matrix has launched a national competition called “VietChain Talents 2025” to discover and nurture blockchain developers and innovators. With a prize pool of $140,000, the contest focuses on four core themes: Layer-1 blockchain development ($40,000 top prize) Decentralized and centralized exchanges Blockchain bridge infrastructure Blockchain traceability solutions Educational institutions also stand to benefit. Universities whose students win any top prize will receive an institutional grant of $8,000. The contest is open until June 20 and is expected to energize Vietnam’s youth into joining the blockchain movement, helping build a sustainable local talent pool. Policy Support and Future Legal Framework The launch of 1Matrix aligns with Resolution 57-NQ/TW and Decision 1236/QD-TTg, key government strategies that target blockchain as a priority sector for Vietnam’s economic future. This comes at a time when the Ministry of Finance is drafting legal frameworks for digital assets and plans to launch a licensed digital currency exchange. The effort will provide: Legal protections for digital asset investors A regulatory path for blockchain-based businesses A framework for secure, compliant digital innovation The goal is to prevent capital flight, ensure tax compliance, and unlock value from Vietnam’s tech-savvy population — which already ranks among the world’s top three in crypto ownership, with $120 billion in inflows in 2023.