FPT IS introduces the first Blockchain platform in Vietnam for domestic L/C – eTradevn
eTradevn, the first Blockchain platform for domestic L/C in Vietnam developed by FPT Information System Corporation (FPT IS), has been presented to a large number of domestic and international companies and partners at Vietnam Blockchain Summit 2022 taking place on October 19-20, 2022 in Hanoi.
At the Summit, Mr. Truong Gia Binh, Chairman of FPT Corporation, discusses the direction of Blockchain approach in digital transformation. According to Mr. Binh, Metaverse and Blockchain are of equal importance to human existence. Blockchain with outstanding advantages will create favorable conditions when developing a metaverse.
Mr. Truong Gia Binh – Chairman of FPT Corporation – speaks at the event.
“Humans have a fundamental desire to see the world in a different way. No one wants to see things unchanged, instead, longs to imagine a new world. No one wants to be limited to the known or to be separated by geographical distance. Therefore, I affirm that Metaverse is the new world. That’s the reason the world’s big tech companies have been investing into Metaverse to create a new world. In such world, there will be digital assets, digital identities, and that is exactly why Blockchain is needed,” said Mr. Truong Gia Binh.
FPT has started to develop new technologies such as AI, Blockchain, Cloud, etc. from very early stage, fostering competent Blockchain talents. At Vietnam Blockchain Summit 2022, FPT has presented a number of typical Blockchain products such as: Teaching and learning platform according to the method of Social Constructivism – Edunext; Payment solution using letter of credit documents – eTradevn.
Particularly, eTradevn is the first domestic Letter of Credit (L/C) Blockchain platform in Vietnam, developed by FPT IS and two Vietnamese leading commercial banks. eTradevn connects banks and companies on a single platform, supports domestic L/C transaction processing, real-time data sharing, reduces storage space and enhances security. eTradevn is expected to create breakthroughs in domestic L/C processing, opening up opportunities to comprehensively connect Vietnam’s digital economy.
FPT IS presents eTradevn at the event.
With the motto of “One Platform – Millions of Connections”, eTradevn will help companies reduce 90% of transaction processing time compared to traditional L/C flow, saving delivery costs and processing time, meanwhile, seamlessly update information and documents between parties. Banks adopting eTradevn will easily mobilize funding on the platform, enhance performance and customer service quality, and minimize risks of fraud.
Vietnam Blockchain Summit 2022 is the largest international event on Blockchain technology in Vietnam, jointly organized by Vietnam Software & IT Services Association (VINASA) and Vietnam Blockchain Association under the auspices of the Government Cipher Committee. The event has drawn more than 1,000 attendees, besides, well-known speakers and experts in the field of Blockchain from technology powerhouses have jointly discussed multiple interesting topics about Blockchain technology in 20 talk sessions.
Read more about eTradevn here.
