KardiaChain CTO on bringing the whole Vietnamese population onto the blockchain, crypto predictions and more

I am a senior Tech Lead Manager at Google, with over 10 years of experience in building large-scale distributed infrastructure, most notably including Google Fiber Operations System, Access Wireless Network Platform and Android Hearables Experiences.

It was at Google that I first learned about blockchain technologies and I was impressed by how the combination of decentralization, peer-to-peer networks, distributed ledgers, and consensus mechanisms can establish a new frontier to disrupt the world.

In 2018, Tri Pham and I co-founded KardiaChain, with the vision of bringing the new blockchain technology to mass adoption.

There are several barriers to overcome before reaching critical mass. I would say regulations and social perceptions are the two critical aspects that are also intertwined with each other. In Vietnam, regulations are taking the initiative to lay out the framework, but progress is not catching up with industry developments. 

Meanwhile, due to unclear regulations, certain parts of the population still regard blockchain and crypto as Ponzi schemes. Apart from that, the steep learning and unfriendly UX also block newcomers to the crypto space.

At KardiaChain, we believe that blockchain should be accessible to everyone. We invent non-invasive, cross-chain technology and work with major service providers to ‘blockchainise’ conventional business models.

Our disruptive feature allows businesses to expedite the blockchain mass adoption process efficiently and reduces the need to educate the market. KardiaChain provides hybrid blockchain infrastructure and solutions for enterprises and governments in Vietnam and other South East Asia countries. 

Our immediate goal is to bring the whole Vietnamese population onto the blockchain.

Non-invasive, cross-chain technology. This technology helps blockchains communicate with each other despite algorithmic differences.

We also tailor our blockchain infrastructure to optimize the trade-off between scalability, security and decentralization to fit the need of growing countries in Vietnam and South East Asia.

Currently, with 20 nodes running BFT DPoS, we are supporting 6000+ tps, 5-second-confirmation, and 10,000 times cheaper than ETH.

Vietnam has been proactively pushing for technology adoption in recent years and the Vietnamese Prime Minister officially assigned blockchain as one of five key technologies to focus on.

Our country has a national goal by 2025 to increase its smartphone penetration rate to 100%. It will provide a better foundation for blockchain products and services to thrive, such as Decentralised ID. The population itself is also an advantage: countries like Vietnam and Indonesia offer large and young user bases and a cost-effective tech workforce, which will create a sustainable market for new products and services.

A standard of interoperability in blockchain will create smooth data asset flows across all decentralized networks. Functionality-wise, one blockchain network cannot provide all the needs for different areas like supply chain, trade finance, healthcare etc. Cross-chain communication and operation, once standardized, will open more business opportunities and enhance user experience. Only then, blockchain can truly become the internet of value.

We have multiple partnerships in the blockchain space and also in traditional business. We value cutting-edge technology and real-life applications when forming partnerships. We continue to seek partners in both blockchain and traditional business.

 Our blockchain partners are top-level companies such as Chainlink and Theta, which bring distinguished tech to the Karida ecosystem. Chainlink helps to bring real-world data into an interconnected network of blockchain and Theta TV adds valuable features to our upcoming e-sport products and services.

 On the other hand, traditional businesses join hands with us to blockchainise their current offerings and subsequently create a more competitive advantage. Geleximco, a multi-billion dollar conglomerate, built on a research lab with KardiaChain to hasten the speed of exploring and applying new features in their ecosystem.

I would prefer to think of blockchain in a broader sense; a technology to empower decentralized trust to become a vital characteristic of our society in 10 years. Each member will possess a certain amount of tokens to participate in this system: to secure, improve and exercise their power together.

The number of people who possess a blockchain wallet will grow exponentially and we will see government-level adoption.